Sri Lanka rupee opens weaker, bonds market dull

ECONOMYNEXT- Sri Lanka’s rupee opened weaker at 174.70/00 to the US dollar in the spot market on Wednesday, while bond yields were steady in dull trading, dealers said.

The rupee had closed at 174.50/90 to the US dollar in the spot market on Tuesday.

At the Colombo Stock Exchange, the All Share Price Index was down 0.09 percent or 4.92 points to 5,298.08 in the first hour of trading, while the more liquid S&P SL20 Index was up 0.06 percent or 1.66 points to 2,592.57.

Market turnover was 1.2 billion rupees, with 24 stock prices gaining and 30 falling.

Around 90 percent of the turnover was through index-heavy John Keells Holdings (JKH), which was trading 30 cents lower at 140 rupees a share.

Cinnamon Grand, one of the hotels targeted in the Easter Sunday bombings, is a part of the JKH group.

Meanwhile, the bond market was quiet, with stable yields, as the market was awaiting a bill auction later in Wednesday morning, dealers said.

The state debt office will sell 25 billion rupees in bills, split into 4 billion rupees in 3-month, 5 billion rupees in 6-month and 16 billion rupees in 12-month maturities.

In the secondary market, 12-month bills were quoted at 9.70/00 percent on Wednesday, unchanged from Tuesday’s close.

A bond maturing on 01.08.2021 was quoted at 10.35/45 percent, unchanged from the previous close. 

A 5-year bond maturing on 15.03.2024 was quoted at 10.90/00 percent, stable from 10.90/95 percent at the previous close.

A bond maturing on 15.01.2027 was quoted at 11.10/20 percent, down from 11.15/20 percent.

A 10-year bond maturing on 01.05.2029 was quoted at 11.20/30 percent, unchanged from Tuesday. (Colombo/Apr24/2019-SB)

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