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Sri Lanka rupee opens weaker, stocks fall 0.51-pct

ECONOMYNEXT – The rupee opened weaker at 176.55/75 against the US dollar in early spot market trading Monday, while bond yields gained and stocks opened 0.51 percent lower on selling interest in Ceylon Tobacco Company, Hatton National Bank and John Keells Holdings, market participants said.

The currency had been declining amid market uncertainty after a sharp gain from Wednesday’s 174.90/10 rupees closing.

The rupee closed on Monday at 176.50/65 to the US dollar in the spot market.

Profit taking and a slight drop in overnight liquidity helped gilt yields to gain in early secondary market trading, a market participant said.

A bond maturing on 15.12.2021 opened at 9.85/95 percent on Tuesday, up from 9.80/90 percent on Monday.

A 3-year bond maturing on 15.03.2022 opened at 9.95/10.05 percent, higher from the previous close of 9.90/00 percent.

A 15.03.2024 bond opened the most liquid at 10.57/62 percent, up from 10.47/50 percent.

A 7-year bond maturing on 01.08.2026 opened higher at 10.75/80 percent from 10.55/65 percent previous close.

A bond maturing on 15.01.2027 opened at 10.77/87 percent, up from 10.70/75 percent.

A 10-year bond maturing in 01.05.2029 opened at 10.88/95 percent, gaining from 10.80/90 percent.

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In equities, Colombo’s All Share index opened lower, down 26.83 points to 5,280.37 and the S&P SL20 of more liquid stocks fell 0.74 percent, down 18.61 points to 2,493.25 in early trading.

Market turnover was 120 million rupees with 12 stocks gaining and 35 declining.

Ceylon Tobacco Company was 30.00 rupees down at 1,320.00 rupees, Hatton National Bank fell 7.00 rupees to 150.00 rupees and John Keells Holdings was 1.00 rupee down at 135.00 rupees. (COLOMBO, 14 May 2019)
 

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