ECONOMYNEXT – The rupee ended weaker at 176.80/90 rupees against the US dollar in the spot market Tuesday, while gilt yields eased and stocks closed 1.57 percent lower on selling interest in Ceylon Tobacco, Hatton National Bank and Sampath Bank, market participants said.
The currency ended Monday at 176.50/65 rupees to the greenback.
Gilt yields eased in the secondary market after picking up in early market trading, a market participant said.
A bond maturing on 15.12.2021 closed at 9.85/95 percent on Tuesday, gaining from 9.80/90 percent on Monday.
A 3-year bond maturing on 15.03.2022 ended at 9.95/10.03 percent, up from the previous close of 9.90/00 percent.
A bond maturing on 15.03.2024 closed at 10.50/55 percent, up from 10.47/50 percent.
A 7-year bond maturing on 01.08.2026 ended higher at 10.70/74 percent from 10.55/65 percent previous close.
A bond maturing on 15.01.2027 ended at 10.75/80 percent, up from 10.70/75 percent.
A 10-year bond maturing in 01.05.2029 was 10.85/90 percent, gaining from 10.80/90 percent.
In equities, Colombo’s All Share index closed 83.51 points down to 5,223.69 and the S&P SL20 of more liquid stocks declined 2.10 percent, down 52.71 to 2,459.15.
Market turnover was 574.6 million rupees, with 19 stocks gaining and 118 declining.
Ceylon Tobacco (down 43.90 rupees to 1,306.10 rupees), Hatton National Bank (fell 7.40 rupees to 149.60 rupees) and Sampath Bank (down 6.60 rupees to 140.00 rupees), contributed to the benchmark decline.
Net foreign buying was 190.60 million rupees, up from the previous net foreign buying of 8.8 million rupees on Monday.
Foreign buying in Commercial Bank was 128.5 million rupees, according to Asia Securities.
Commercial Bank was down 10 cents to 89.90 rupees.
Three off-market negotiated trades, or crossings, of 75.3 million rupees in Commercial Bank and a crossing of 67.5 million rupees in John Keells Holdings contributed 25 percent to the market turnover.
John Keells Holdings was down 1 rupee to 135 rupees. (COLOMBO, 14 May 2019)