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Sri Lanka rupee ends weaker, bond yields edge up

ECONOMYNEXT – Sri Lanka rupee closed weaker at 184.90/185.10 against the US dollar on Monday while bond yields were marginally up in moderate market trade, dealers said.

The rupee closed at 184.40/65 to the greenback on Friday.

In equities, the Colombo’s All Share Price Index gained 0.06 percent or 3.41 points to end at 5,385.79.

The S&P SL20 index of more liquid stocks gained 0.20 percent or 4.80 points to 2,398.98.

The market turnover was 1.56 billion rupees with 63 stocks gaining and 100 falling.

Crossings or negotiated traded were seen in Lanka Milk Foods, amounting to 20.1 million rupees at 83.50 rupees per share and the stock closed 2.30 rupees up at 85.30 rupees per share.

Distilleries Company contributed most to the gain of ASPI, gaining 90 cents to trade at 16.20 rupees a share.

Nestle Lanka shares traded 61.80 rupees up at 1,070.20 rupees while People’s Leasing and Finance stocks gained 40 cents to trade at 12.30 rupees a share, also contributing to the ASPI’s gain.

In the secondary government securities markets, bond yields were marginally up in moderate trade with high liquidity seen in 2022 maturities, dealers said.

A 2-year bond maturing on 15.12.2022 was quoted at 5.55/60 percent on Monday, up from 5.42/50 percent at Friday’s closing.

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A bond maturing on 15.01.2023 was quoted at 5.58/65 percent, up from 5.48/55 percent at the previous closing.

A bond maturing on 15.09.2024 was quoted at 6.05/10 percent on Monday, down from Friday’s closing at 6.01/05 percent.

A bond maturing on 01.05.2025 was quoted at 6.32/40 percent on Monday, up from 6.33/37 percent at the previous day’s closing.

A bond maturing on 01.02.2026 was quoted at 6.50/55 percent, up from 6.45/50 percent at the previous close.

A bond maturing on 15.08.2027 was quoted at 6.95/7.00 percent, up from 6.92/95 percent at Friday’s end.

A 10-year bond maturing on 15.05.2030 was quoted at 7.27/35 percent, unchanged from 7.28/35 percent at the previous day’s closing. (Colombo/Aug24/2020)