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Sri Lanka rupee remains flat at close, gilt yields down

ECONOMYEXT – Sri Lanka rupee closed flat at 185.73/78 to US dollar in the spot market on Tuesday while bond yields down and stocks fell, dealers said.

Rupee closed at 185.72/78 to the greenback on Monday.

In equities, Sri Lanka stocks fell 0.11 percent at the end of market trade.

Colombo’s main All Share Price Index (ASPI) down 5.70 points to 5,099.42, provisional data showed.

The S&P SL20 index of more liquid stocks slipped 0.31 percent or 6.74 points to 2,171.43.

Market turnover amounted to 795 million rupees with 57 stocks making gains and 99 stocks making losses.

Dialog Axiata dragged the ASPI down, trading at 11.30 rupees a share, down by 20 cents.
CCS COMB

Ceylon Cold Stores shares slipped 12.30 rupees to trade at 670.00 rupees a share while Commercial Bank of Ceylon stocks traded 80 cents down at 74.00 rupees a share, also contributing to the ASPI’s fall.

In the secondary government securities market, gilt yields eased in active market trade, dealers said.

“With the spike in selected bond yields yesterday, rest of the tenors along the yield curve readjusted with mixed activity while recording high volumes amidst a number of swaps that took place in the market,” First Capital Research said in it’s daily market report.

Central Bank entered into a 400 million US dollar currency swap agreement with Reserve Bank of India, while further discussions are ongoing to secure an additional 1 billion US dollar. Additionally, SLDB auction held during 22-27, oversubscribed drawing 100 million US dollars.

A 2-year bond maturing on 15.12.2022 closed at 5.65/72 percent on Tuesday, down from 5.68/73 percent at Monday’s close.

A bond maturing on 15.01.2023 closed at 5.68/75 percent easing from 5.70/77 percent at Monday’s close.

A bond maturing on 15.09.2024 closed at 6.20/27 percent down from Monday’s closing at 6.25/35 percent.

A bond maturing on 01.05.2025 closed at 6.42/50 percent on Tuesday, edging down from 6.48/58 percent at yesterday’s closing.

A bond maturing on 01.02.2026 closed at 6.52/57 percent, down from 6.60/70 from the previous close.

A bond maturing on 15.10.2027 closed at 6.90/7.00 percent, up from 6.85/7.05 percent from Monday’s end.

A 10-year bond maturing on 15.05.2030 closed at 7.25/35 percent, down from 7.30/38 percent on Monday’s closing.
(Colombo/July28/2020)

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