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Sri Lanka rupee ends strong, gilt yields steady

ECONOMYNEXT – Sri Lanka rupee closed stronger 184.65/80 against the US dollar on Monday while stocks fell and bond yields remained steady, dealers said.

The rupee ended at 185.10/25 rupees against the greenback on Friday.

In equities, Colombo’s All Share Price Index fell 0.01 per cent or 0.75 points to 5,310.67.

S&P SL20 Index of most liquid stocks fell 0.59 per cent or 13.68 points to 2,307.89.

Market turnover was 757 million rupees with 94 stocks gaining and 78 falling.

Ceylon Tobacco Company stocks contributed most to ASPI’s fall, down 7.60 rupees to trade at 960.50 rupees a share.

Lion Brewery Ceylon stocks down 17.10 rupees to 542.50 rupees a share and Distilleries Company of Sri Lanka stocks down 20 cents to close at 15.20 rupees a share, also contributing to ASPI’s fall.

In the secondary government securities markets, bond yields were stable in dull trade with no liquidity seen in any of the maturities across the board, dealers said.

A 2-year bond maturing on 15.12.2022 closed at 5.50/60 per cent on Monday, down from 5.55/58 per cent at Friday’s closing.

A bond maturing on 15.01.2023 closed at 5.55/65 per cent on Monday, down from 5.58/63 per cent at last week’s close.

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A bond maturing on 15.09.2024 closed at 6.05/12 per cent, up from 6.04/12 per cent in the previous closing.

A bond maturing on 01.05.2025 closed at 6.32/42 per cent, stable from 6.32/38 per cent at the previous day’s closing.

A bond maturing on 01.02.2026 closed at 6.50/55 per cent, flat from its previous close on Friday.

A bond maturing on 15.08.2027 closed at 6.90/7.00 per cent, down from 6.92/97 per cent at Friday’s closing.

A 10-year bond maturing on 15.05.2030 closed at 7.25/40 per cent, unchanged from 7.25/40 per cent at the previous day’s closing. (Colombo/Sep07/2020)