Sri Lanka rupee ends marginally stronger, gilt yields remain unchanged

ECONOMYNEXT – Sri Lanka rupee closed marginally stronger at 185.80/95 to US dollar in the spot market on Tuesday while bond yields remained unchanged and stocks gained, dealers said.

Rupees closed at 185.85/90 to the US dollar on Monday.

In equities market, Sri Lanka stocks gained 1.38 percent on Tuesday, at the close.

Colombo’s main All Share Price index (ASPI) advanced 67.35 points at 4,947.11, provisional data showed.

The S&P SL20 index of more liquid stocks climbed 2.00 percent or 41.41 points at 2,113.51.

Market turnover amounted to 1.89 billion rupees with 141 stocks making gains while 21 stocks made losses.

Net foreign selling in the market amounted to 206 million rupees.

Negotiated crossings were seen in Hemas and John Keells counters amounting to 110.5 million rupees.

Ceylon Tobacco Company contributed mostly to ASPI’s, gaining 12.10 rupees a share to close at 950.00 rupees.

Other stocks that contributed to ASPI’s gain today were, Commercial Bank of Ceylon stocks advanced 2.30 rupees a share to trade at 73.10 rupees while Commercial Leasing and Finance gained 30 cents to trade a 3.00 rupees a share.

In the secondary government securities market, gilt yields remained unchanged in moderate trading, dealers said.

Dealers said the 2024 maturities were seen liquid in the market for the day.

A 2-year bond maturing on 15.12.2022 closed at 5.42/48 percent on Tuesday, steady from 5.42/50 percent at Monday’s close.

A bond maturing on 15.01.2023 closed at 5.50/58 percent, unchanged from 5.50/60 percent at Monday’s close.

A bond maturing on 15.09.2024 closed at 6.17/20 percent, down from 6.20/28 percent at yesterday’s closing.

A bond maturing on 01.05.2025 closed at 6.32/40 percent on Tuesday, down from 6.35/40 percent at Monday’s closing.

A bond maturing on 01.02.2026 closed at 6.52/60 percent, marginally falling from 6.50/60 percent.

A bond maturing on 15.10.2027 closed at 6.65/73 percent, unchanged from 6.65/73 percent at Monday’s end.

(Colombo/July14/2020)

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