Sri Lanka rupee opens steady, gilt yields fall
ECONOMYNEXT – The Sri Lanka rupee opened flat at 176.45/50 rupees against the US dollar in the spot market Tuesday while bond yields eased, dealers said.
The currency closed Monday at 176.45/50 rupees against the US dollar.
The tense political standoff between the executive and legislative continued, as President Maithripala Sirisena opposed national intelligence officers being brought to testify at a Parliamentary Select Committee inquiring into the Easter Sunday terror attack.
President Sirisena has refused to chair the scheduled cabinet meeting today in protest.
Meanwhile, Finance Minister Mangala Samaraweera said that Sri Lanka’s economic growth for 2019 will not be dented by the Easter Sunday attacks.
Treasury Secretary R. H. S. Samaratunga said that the agriculture sector may provide a boost to pick up the post-terror low activity in the tourism sector.
In the bond market, yields eased on dull trade ahead of bill and bond auctions on Wednesday.
A bond maturing on 15.12.2021 was quoted at 9.65/75 percent, up from Monday’s close of 9.60/75 percent.
A bond maturing on 15.03.2023 was quoted at 10.15/20 percent, down from the previous closing of 10.20/30 percent.
A bond maturing on 15.03.2024 was quoted at 10.25/32 percent, easing from 10.35/40 percent.
A bond maturing on 01.08.2026 was quoted at 10.55/60 percent, steady from 10.55/65 percent.
A bond maturing on 15.01.2027 was quoted at 10.55/65 percent, down from 10.60/70 percent.
A 10-year bond maturing on 01.05.2029 was quoted at 10.60/70 percent, down from 10.70/85 percent.
In equities, the All Share Price Index at the Colombo Stock Exchange was up 0.03 percent or 3.85 points at 5,324.71 in the first half hour of trading.
The more liquid S&P SL20 Index was up 0.09 percent or 2.35 points at 2,479.83.
Market turnover was 37 million rupees.
Access Engineering was trading 50 cents up at 13 rupees a share. contributing most to the ASPI gain.
Commercial Bank was trading 80 cents up at 93 rupees a share and DFCC Bank was 50 cents higher at 70 rupees a share, also helping the benchmark index.(COLOMBO,11 June, 2019)