Sri Lanka rupee opens weaker, gilt yields gain

ECONOMYNEXT- The Sri Lanka rupee opened weaker at 180.70/85 to the US dollar on Thursday, while bond yields gained and stocks opened 0.22 percent higher, brokers and dealers said.

The rupee closed at 180.50/70 against the greenback in the spot market on Wednesday.

In equities, Colombo’s All Share Price Index gained 12.64 points to 5,874.18 and the S&P SL20 index of more liquid stocks was up 0.14 percent or 4.03 points to 2,883.02, in the first hour of trade.

The market turnover was 47.9 million rupees with 17 stocks gaining and 26 falling.

Sri Lanka Telecom gained 5.00 rupees to 32.90 rupees a share, Commercial Bank of Ceylon was up 40 cents at 106.90 rupees a share and Hayleys PLC gained 2.80 rupees to 157.00 rupees a share, contributing to ASPI’s gain.

In the secondary bond market, gilt yields gained in active trading, dealers said.

Dealers said the 2024 maturities were the most liquid.

A bond maturing on 15.10.2021 was quoted at 9.05/9.15 percent on Thursday, up from 8.95/9.05 percent at Wednesday’s close.

A bond maturing on 15.03.2023 was quoted at 9.80/95 percent, stable from 9.80/90 percent.

A bond maturing on 15.06.2024 was quoted at 10.10/20 percent, gaining from 10.05/10 percent.

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A bond maturing on 01.08.2026 was quoted at 10.10/25 percent, edging up from 10.10/15 percent.

A bond maturing on 15.01.2027 was quoted at 10.15/30 percent, gaining from 10.10/20 percent.

A bond maturing on 01.05.2028 was quoted at 10.15/35 percent, up from 10.10/20 percent.

A 20-year bond maturing on 15.08.2039 was quoted at 10.15/40 percent, gaining from 10.10/35 percent. (COLOMBO, 05 September 2019)

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