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Sri Lanka rupee firmer at the close, gilt yields down

ECONOMYNEXT – Sri Lanka rupee closed firmer at 184.05/15 percent on Tuesday in the spot market while stocks gained and bond yields eased in active trade, dealers said.

The rupee closed at 184.70/77 against the greenback on Monday.

In equities, Colombo’s All Share Price Index gained 0.89 percent or 45.65 points to 5,196.40.

S&P SL20 index of more liquid stocks gained 0.96 percent or 21.30 points to 2231.78.

Market turnover was 2.69 billion rupees with 112 stocks gaining and 43 making losses.

LOLC Holdings contributed most to ASPI’s gain, trading 5.60 rupees up at 143.20 rupees a share.

Ceylon Tobacco Company stocks up 10.80 rupees to 970.90 rupees a share and Dialog Axiata stocks gained 20 cents to trade at 11.40 rupees a share, also contributing to ASPI’s gain.

In the secondary markets, bond yields down in active trade, dealers said.

The surge in liquidity resulted in renewed buying interest primarily cantered on short tenor maturities whilst overall market witnessed moderate volumes ahead of tomorrow’s treasury bill auction amounting to 36.5 billion rupees, First Capital Research said in its daily market report.

Sri Lanka’s debt is offering 36.5 billion rupees up in auction split into 8 billion rupees maturing in 3-months, 12.5 billion rupees maturing in 6months, and 16 billion rupees maturing in 12-months.

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A 2-year bond maturing on 15.12.2022 closed at 5.75/80 percent on Tuesday, falling from 5.85/90 at Monday’s end.

A bond maturing on 15.01.2023 closed at 5.78/85 percent falling 5.85/95 at Monday’s close.

A bond maturing on 15.09.2024 closed at 6.17/22 percent on Tuesday, down from Monday’s closing at 6.25/33 percent.

A bond maturing on 01.05.2025 closed at 6.40/50 percent on Tuesday, slipping from 6.50/60 percent at the previous day’s closing.

A bond maturing on 01.02.2026 closed at 6.50/60 percent, falling from 6.60/70 percent at the previous close.

A bond maturing on 15.08.2027 closed at 7.00/07 percent, steady from 7.00/10 percent at Monday’s closing.

A 10-year bond maturing on 15.05.2030 closed at 7.30/37 percent, stable from 7.30/40 percent at the previous day’s closing. (Colombo/Aug11/2020)

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