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Sri Lanka rupee quoted firmer, gilt yields steady

ECONOMYNEXT – Sri Lanka rupee quoted firmer at 184.85/95 percent on Monday in the spot market while bond yields remained steady in dull market trade, dealers said.

The rupee closed at 185.22/27 against the greenback on Friday.

In equities the Colombo’s All Share Price Index fell 0.29 percent or 15.16 points to 5,161.32.

The S&P SL20 index of more liquid stocks fell 0.33 percent or 7.38 points to 2,219.81.

The market turnover was 94.1 million rupees with 28 stocks gaining and 49 falling.

LOLC Holdings contributed most to the fall of ASPI, falling 3.60 rupees to trade at 134.00 rupees a share.

Dialog Axiata shares traded 90 cents down at 114.00 rupees also contributing to the ASPI’s fall.

In May and June, private credit was negative but the Central Bank has been buying dollars not allowing the exchange rate to appreciate.

July credit data is not yet out.

In the secondary markets, bonds yields remained steady in dull market trade, dealers said.

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The analyst said that the markets are still bearish as it waits for some sort of a direction which they are expecting to come from new cabinet appointments.

A 2-year bond maturing on 15.12.2022 was quoted at 5.85/93 percent on Monday, down from 5.90/95 percent at Friday’s end.

A bond maturing on 15.01.2023 was quoted at 5.90 percent down from 5.93/98 at Friday’s close.

A bond maturing on 15.09.2024 was quoted at 5.95/6.30 percent on Monday, easing from down from Friday’s closing at 6.28/30 percent.

A bond maturing on 01.05.2025 was quoted at 6.50/60 percent on Monday, falling from 6.52/60 percent at the previous day’s closing.

A bond maturing on 01.02.2026 was quoted at 6.50/70 percent, down from 6.60/70 percent from the previous close.

A bond maturing on 15.08.2027 was quoted at 7.05/15 percent, easing from 7.07/14 percent at Friday’s closing.

A 10-year bond maturing on 15.05.2030 was quoted at 7.30/40 percent, flat from the previous day’s closing. (Colombo/Aug05/2020)

(Colombo/AUG10/2020)

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