Sri Lanka rupee ends weaker, gilts edge up; stocks gain 0.26-pct

ECONOMYNEXT – The Sri Lanka rupee ended weaker at 175.25/50 rupees to the US dollar in the spot market Friday, while gilt yields edged up on foreign selling and stocks closed 0.26 percent higher on buying interest in John Keells Holdings, Ceylon Tobacco and CT Holdings, market participants said.

The currency ended Friday at 175.00/50 rupees against the greenback.

In equities, Colombo’s All Share closed 0.26 percent higher, up 14.17 points to 5,437.06 on low volumes, and the S&P Index of more liquid stocks gained 0.37 percent higher, up 11.92 points to 2,603.10.

Market turnover was 162.8 million rupees with 50 stocks gaining during the day and 48 declining.

John Keells Holdings ended 3.50 rupees higher at 143.50 rupees, Ceylon Tobacco was up 10.20 rupees to 1260.20 rupees, and CT Holdings gained 5 rupees to close at 165.00.

Net foreign selling was 4.4 million rupees, compared to buying of 162.8 million rupees the previous day.

Foreign selling in John Keells Holdings was 2 million rupees.

There were no crossings, or off-market negotiated trades.

Gilt yields edged higher in the secondary bond market amidst foreign selling, dealers said. A 120 billion rupees bond auction is due on Monday.

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A bond maturing in 2021 ended wide at 10.35/50 percent in two-way quotes, up from 10.32/38 percent previous close.

A bond maturing in 2022 ended at 10.65/75 percent, up from the previous close 10.45/55 percent.

A bond maturing in 2023 closed at 10.85/95 percent,  up from 10.75/82 percent.

The 2024 bond ended at 10.98/11.05 percent, up from the previous closing of 10.90/95 percent.

A ten-year bond maturing in 2029 closed at 11.20/25 percent, unchanged from the previous day. (Colombo, 26 April 2019-SB)

 

 

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