Sri Lanka rupee gains at close, bonds yields stable
Monday March 18, 2019 17:07
ECONOMYNEXT- Sri Lanka’s rupee closed stronger at 178.25/35 to the US dollar on Monday, while bond yields were stable, dealers said.
The rupee closed at 178.45/55 to the US dollar in the spot market on Friday.
The rupee had opened weaker at 178.40/60 to the US dollar on Monday before gaining in the afternoon.
Dealers said the bond market was quiet with stable yields.
The weekly bill auction will be held on Tuesday morning, when the state debt office will issue 24 billion rupees in bills, after which the market may become active, dealers said.
Twelve month bills closed at 10.47/55 percent on Monday, falling marginally from Friday’s close of 10.48/55 percent.
A bond maturing on 01.08.2021 closed at 10.75/82 percent, rising from 10.70/75 percent at the previous close.
A bond maturing on 15.07.2023 closed at 10.95/05 percent on Monday, unchanged from Friday.
A new 5-year bond maturing on 15.03.2024 ended at 11.08/10 percent on Monday, narrower from Friday’s close of 11.05/12 percent.
A bond maturing on 01.08.2026 ended at 11.15/30 percent on Monday, flat from Friday.
A bond maturing on 15.06.2027, closed at 11.28/38 percent on Monday, easing from 11.30/38 percent at Friday’s close.
A bond maturing on 01.09.2028, closed at 11.35/43 percent, stable from the previous close of 11.35/45 percent.
A newly-issued bond maturing on 01.05.2029 ended at 11.45/52 percent, stable from 11.45/50 percent, at Friday’s close.
At the Colombo Stock Exchange, the All Share Price Index closed 1.26 points lower at 5,614.98 on Monday while the more liquid stocks on the S&P SL20 Index was flat at 2,761.
Market turnover was 251.4 million rupees. There was foreign selling, with net outflows of 40.8 million rupees from the market.
The All Share was weighed down by Ceylon Tobacco Company, which closed 20 rupees lower at 1,350 rupees per share, and LOLC Holdings which closed 3.50 rupees lower at 90 rupees per share.
Commercial Bank was the most active stock accounting for nearly 30 percent of the daily turnover, and closed 1 rupee higher at 100 rupees.
Share prices of 44 companies gained while 58 fell. (Colombo/Mar18/2019-SB)