Sri Lanka rupee opens firm, bond yields steady
ECONOMYNEXT- Sri Lanka’s rupee opened stronger at 176.78/88 percent against the US dollar in the spot market on Wednesday while bond yields were stable, and the stocks opened 0.12 percent higher, dealers said.
The rupee closed on Tuesday at 176.80/85 against the greenback.
The cabinet on Wednesday announced that it had yesterday approved 480 billion rupees in additional debt to be raised through the Active Liability Management Act.
However, the bond market was dull, with yields stable as investors awaited a primary bill auction later on Wednesday.
A bond maturing on 15.10.2021 was quoted flat at 9.70/75 percent.
A bond maturing on 15.12.2021 was quoted at 9.72/75 percent, down from 9.74/78 percent on Tuesday.
A bond maturing on 15.03.2023 was quoted flat at 10.10/17 percent.
A bond maturing on 15.03.2024 was quoted 10.25/30 percent, stable from 10.25/28 percent on Tuesday
A bond maturing on 01.08.2026 was quoted 10.48/53 percent, gaining from 10.47/52 percent.
A bond maturing on 15.01.2027 was quoted at 10.55/60 percent, easing from 10.56/59 percent.
A 10-year bond maturing on 01.05.2029 was quoted at 10.60/70 percent, down from 10.62/68 percent.
In equities, Colombo’s All Share Price Index was 6.70 points up at 5,382.30 in the first hour of trading, while the S&P SL20 was up 0.06 percent, or 1.56 points at 2,516.90.
The market turnover was 14.3 million rupees, with 24 stocks rising and 10 declining.
Commercial Leasing and Finance was trading 20 cents up at 2.90 rupees a share, Cargills Ceylon was 3.90 rupees up at 194.90 rupees a share and LOLC Finance was 10 cents up to 3.80 rupees a share, contributing to ASPI gain.(COLOMBO 19 June 2019)