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Sri Lanka rupee ends slightly weaker, gilt yields unchanged

ECONOMYNEXT – Sri Lanka rupee closed marginally weaker at 185.85/90 to US dollar in the spot market on Monday while bond yields remained unchanged and stocks plunged, dealers said.

Rupees closed on Thursday at 185.80/90 to the US dollar.

In equities market, Sri Lanka stocks plunged 2.26 percent or 112.86 points to close at 4,879.76 at end of market close, provisional data showed.

The S&P SL20 index of more liquid stocks dipped 3.18 percent or 68.09 points to end at 2,072.10.

Market turnover amounted to 1.3 billion rupees with 20 stocks making gains while 169 stocks made losses.

Nestle Lanka PLC dragged the ASPI down, contributing most to its fall by trading at 1,009.20 rupees a share down by 67.90 rupees.

John Keells Holdings stocks plunged 2.40 rupees a share to last trade at 108.10 rupees while Commercial Bank of Ceylon stocks fell 3.10 rupees to trade at 70.80 rupees a share.

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

Dealers said the maturities ranging from 2022 to 2024 were seen liquid in the market for the day.

Sri Lanka is offered 40 billion rupees in treasury bonds on an auction today.

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A 2-year bond maturing on 15.12.2022 closed at 5.42/50 percent on Monday, down from 5.45/48 percent at Friday’s close.

A bond maturing on 15.01.2023 closed at 5.50/60 percent, easing from 5.53/57 percent at Friday’s close.

A bond maturing on 15.09.2024 closed at 6.20/28 percent, down from 6.23/28 percent at last week’s closing.

A bond maturing on 01.05.2025 closed at 6.35/40 percent on Monday, slipping from 6.35/43 percent at Friday’s closing.

A bond maturing on 01.02.2026 closed at 6.50/60 percent, unchanged from 6.50/60 percent.

A bond maturing on 15.10.2027 closed at 6.65/73 percent, up from 6.60/75 percent at Friday’s end.

(Colombo/July13/2020)

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