Sri Lanka rupee ends weaker, bond yields flat

ECONOMYNEXT – Sri Lanka’s rupee closed lower at 177.80/95 to the US dollar in the spot market on Monday, while bonds yields ended flat and stocks down 0.06 percent, dealers and brokers said.

The rupee closed at 177.70/85 to the US dollar in the spot market on Friday.

Bond markets were inactive, with only one trade recorded, a dealer said.

Another said market participants were on a wait-and-see approach until a bill auction on Wednesday.

Bond yields were quoted flat on Monday’s close from Friday, dealers said.

Twelve month bills were quoted at 10.65/70 on Monday, with no change.

A bond maturing on 01.08.2021 was quoted at 10.94/00 percent on Monday, flat from the previous close of 10.95/00 percent.

A bond maturing on 15.12.2023, was quoted at 11.00/07, slightly narrower from 11.00/10 percent on Friday.

A 7-year bond maturing 01.08.2026 was quoted at 11.20/28 percent, compared to 11.20/30 percent at previous close.

A bond maturing on 15.01.2027, was quoted at 11.27/32 percent on Monday, flat from Friday





A bond maturing on 01.09.2028 was quoted at 11.35/45, with no change.

At the Colombo Stock Exchange, the All Share Price Index closed 0.06 percent or 3.52 points  lower at 5,960.62 while the more liquid stocks on the S&P SL20 Index were up 0.14 percent or 4.34 points to 3,062.41.

Market turnover was 3.3 billion rupees with high foreign participation. The market saw net foreign outflows of 1.2 billion rupees.

Nearly two thirds of the turnover took place in the morning on John Keells Holdings (JKH) and CT Holdings shares.

Brokers said foreigners were selling JKH shares in negotiated deals while top shareholders were attempting to consolidate positions.

The JKH share closed 1.70 rupees higher at 157.70 rupees.

The All Share was dragged down by Commercial Leasing and Finance, closing 20 cents lower at 2.50 rupees per share and Distilleries Company of Sri Lanka, down 20 cents to 15.80 rupees per share.

Overall, share prices of 50 firms gained, and 64 fell. (Colombo/Feb11/2019-SB)

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