Sri Lanka rupee opens stronger, bond yields steady

ECONOMYNEXT- Sri Lanka’s rupee was quoted stronger at 180.90/181.00 to the US dollar in the spot market on Thursday while gilt yields remained unchanged and stocks opened 0.28 percent higher, brokers and dealers said.

The rupee closed at 181.10/15 to the US dollar in the spot market on Tuesday.

In equities, Colombo’s All Share Price Index gained 16.78 points to 6,076.98 and the S&P SL20 Index of more liquid stocks gained 0.58 percent or 16.96 points to 2,962.20, in the first-half hour of trade.

Market turnover was 67.4 million rupees with 49 stocks gaining and 11 falling.

LOLC Holdings was 11.00 rupees up to 125.00 rupees a share, John Keells Holdings was up 1.60 rupees to 162.00 rupees a share and Melstscorp gained 90 cents to 43.50 rupees a share, contributing to ASPI’s gain.

In the government securities market, bond yields were steady in dull trade ahead of a bond auction, dealers said.

Sri Lanka’s debt office is offering 25 billion rupees in treasury bonds, split into 15 billion rupees in a 15.09.2024 bond and 10 billion rupees a in 15.05.2030 maturity.

A bond maturing on 15.12.2021 was quoted flat at 9.60/80 percent on Thursday.

A bond maturing on 15.07.2023 was quoted at 9.50/55 percent on Thursday, stable from 9.50/60 percent at Tuesday’s close.

A bond maturing on 15.09.2024 was quoted at 9.83/85 percent, up from 9.82/88 percent.

A bond maturing on 15.10.2027 was quoted at 10.05/15 percent, falling from 10.10/15 percent.

A bond maturing on 15.09.2034 was quoted at 10.30/40 percent, stable from 10.30/35 percent. (Colombo/Dec12/2019)