Sri Lanka rupee falls at close, stocks retreat

ECONOMYNEXT- Sri Lanka’s rupee closed weaker at 178.40/45 to the US dollar on Tuesday, while bond yields fell and stocks retreated 0.42 percent on foreign selling, brokers and dealers said.

The rupee closed at 178.25/35 to the US dollar in the spot market on Monday, gaining from Friday. 
Dealers said the bond market was quiet Tuesday morning, and some activity was seen in the afternoon session following a bills auction.
The state debt office had accepted 24 billion rupees in bills on Tuesday, with auction weighted average yields falling.
In the secondary market, twelve month bills closed at 10.42/50 percent on Tuesday, down from 10.47/55 percent at Monday’s close. 
A bond maturing on 01.08.2021 closed at 10.72/75 percent today, falling from the previous close of 10.75/82 percent.  
A bond maturing on 15.07.2023 closed at 10.90/00 percent on Tuesday, down from Monday’s close of 10.95/05 percent. 
A new 5-year bond closed at 15.03.2024 closed at 11.05/08 percent today, easing from 11.08/10 percent at Monday’s close.  
A bond maturing on 01.08.2026 closed at 11.15/25 percent on Tuesday, stable from 11.15/30 percent at the previous close. 
A bond maturing on 15.06.2027, closed at 11.25/35 percent on Tuesday, falling from 11.28/38 percent at Monday’s close. 
A bond maturing on 01.09.2028, closed at 11.33/43 percent on Tuesday, down from the previous close of 11.35/43 percent. 
A newly-issued bond maturing on 01.05.2029 closed at 11.42/48 percent today, stable from Monday’s close of 11.45/52 percent. 
At the Colombo Stock Exchange, the All Share Price Index dipped below 5,600.
The  market closed 23.31 points lower at 5,591.67 after reaching an intraday high of 5,620 in the first few minutes of trading, First Capital Research said.
The more liquid S&P SL20 Index closed 8.65 points lower at 2,752.35.
Market turnover was 291.3 million rupees, driven by foreign selling, with 182.6 million rupees in net outflows from the market.
Distilleries Company of Sri Lanka contributed most to the All Share’s fall, with the share ending 80 cents lower at 14 rupees.
Trading was centred on Hemas Holdings, which contributed 52 percent to turnover, and closed 1 rupee lower at 75 rupees per share.
Meanwhile, John Keells Holdings closed 1 rupee higher at 151.50 rupees per share.
Share prices of 38 firms gained on Tuesday, while 81 fell. (Colombo/Mar19/2019-SB)

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