Sri Lanka rupee ends weaker, bond yields steady

Rupees 07.07.2020

ECONOMYNEXT – Sri Lanka rupee closed weaker at 185.85/95 to US dollar in the spot market on Tuesday while bond yields were stable and stocks gained, dealers and brokers said.

Rupee closed at 185.80/90 to the greenback on Monday.

Liquidity in the money market was 164.14 billion rupees, up from 162.62 billion rupees at Monday’s end.

In equities the Colombo’s All Share Price Index gained 0.12 percent or 5.88 points at 5,081.78 at the end of market close.

The S&P SL20 index of more liquid stocks climbed 1.10 percent or 24.14 points to 2,212.70.

The market turnover was 1.7 billion rupees with 74 stocks gaining and 70 falling.

Crossings in the market contributed 41 percent to the market turnover.

The crossings were witnessed in counters Tokyo Cement (non-voting), Sampath Bank, Overseas Realty, Nations Trust Bank, John Keells Holdings, and Commercial Bank Ceylon.

Net foreign sales in the market were 237.8 million rupees at today’s closing.

John Keells Holdings contributed most to the gain of ASPI, climbing 2.10 rupees to trade at 114.90 rupees a share.

Sampath Bank stocks gained 4.90 rupees to trade at 124.90 rupees a share and Commercial Bank of Ceylon stocks up 70 cents to trade at 76.50 rupees a share, also contributing to the ASPI’s gain.

On the other end, Ceylon Tobacco Company stocks plunged 38.70 (3.87 percent) rupees to trade at 961.00 rupees a share.

In the secondary government securities market, gilt yields were stable in dull trading, dealers said, as all market participants have adopted a wait and see policy until the monetary announcement is released.

Dealers said that high liquidity was seen in 15.01.2023 maturity.

Sri Lanka’s debt office is also offering 28.5 billion rupees up in a weekly auction to be held tomorrow split in to 4 billion rupees maturing in 3-months, 6 billion rupees maturing in 6-months and 18.5 billion rupees maturing in 12-months.

A 2-year bond maturing on 15.12.2022 closed at 5.77/83 percent on Tuesday, up from 5.80/85 percent at Monday’s close.

A bond maturing on 15.01.2023 closed at 5.87/90 percent, down from 5.88/93 percent at Monday’s close.

A bond maturing on 15.09.2024 closed at 6.45/50 percent, up from 6.40/45 percent at Monday’s closing.

A bond maturing on 01.05.2025 closed at 6.62/67 percent on Tuesday, down from 6.55/65 percent at Monday’s closing.

A bond maturing on 01.02.2026 closed at 6.73/80 percent, stable from 6.73/83 percent.

A bond maturing on 15.10.2027 closed at 6.96/02 percent, marginally up from 6.95/7.03 percent at Monday’s end. (Colombo/July07/2020)

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