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Sri Lanka rupee opens weaker, gilt yields marginally up

ECONOMYNEXT – Sri Lanka rupee was quoted weaker at 185.75/82 to US dollar in the spot market on Tuesday while bond yields picked up marginally, dealers said.

Rupee closed at 185.70/80 to the greenback on Monday.

In equities market, stocks gained 0.20 percent on Tuesday’s market open, provisional data showed.

Colombo’s main All Share Price Index (ASPI) advanced 10.15 points to 5,049.00, in the first half-hour into trading.

The S&P SL20 index of more liquid stocks climbed 0.37 percent or 8.14 points to 2,189.27.

Market turnover was 145.5 million rupees with 37 stocks making gains while 10 made losses.

The Lanka Hospitals Corporation PLC, dragged the ASPI up, trading at 39.50 rupees a share, up by 3.80 rupees (10.64 percent)

Dialog Axiata shares traded 10 cents up at 11.40 rupees a share while John Keells Holdings shares climbed 50 cents to 114.00 rupees a share, also contributing to the ASPI’s gain.

In the secondary government securities market, gilt yields were up marginally in moderate market trade, dealers said.

Dealers said that high liquidity can be seen in 2022 maturity.

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A 2-year bond maturing on 15.12.2022 was quoted at 5.42/48 percent on Tuesday, up from 5.35/40 percent at Monday’s close.

A bond maturing on 15.01.2023 was quoted at 5.45/50 percent up from 5.40/45 percent at Monday’s close.

A bond maturing on 15.09.2024 was quoted at 6.03/08 percent up from yesterday’s closing at 6.00/05 percent.

A bond maturing on 01.05.2025 was quoted at 6.26/30 percent on Tuesday, up from 6.23/30 percent at yesterday’s closing.

A bond maturing on 01.02.2026 was quoted at 6.43/45 percent, up from 6.40/45 percent.

A bond maturing on 15.10.2027 was quoted at 6.55/65 percent, unchanged from 6.55/65 percent at Monday’s end. (Colombo/July21/2020)