Sri Lanka rupee stable at open, bond yields flat
Monday February 11, 2019 10:11
ECONOMYNEXT – Sri Lanka’s rupee was quoted at 177.70/95 to the US dollar in the spot market on Monday, while bonds yields were flat and stocks up 0.07 percent dealers said.
The rupee closed at 177.70/85 on Friday.
Dealers said there was little activity in mid-morning trade, with yields of government securities quoted around the same levels as Friday.
Twelve month bills were quoted at 10.65/70 on Monday, flat from Friday’s close.
A bond maturing on 01.08.2021 was quoted at 10.90/00 percent on Monday, slightly wider from the previous close of 10.95/00 percent.
A bond maturing on 15.12.2023, was quoted at 11.00/05, narrower from 11.00/10 percent on Friday.
A 7-year bond maturing 01.08.2026 was quoted at 11.20/27 percent, compared to 11.20/30 percent at previous close.
A bond maturing on 15.01.2027, was quoted at 11.27/32 percent on Monday, compared to Friday’s close of 11.28/30 percent.
A bond maturing on 01.09.2028 was quoted at 11.35/45, flat from Friday.
At the Colombo Stock Exchange, the main All Share Price Index was up 0.07 percent or 4.21 points to 5,968.35, while more liquid stocks in the S&P SL20 Index were up 0.12 percent or 3.80 points to 3,061.87 in the first hour of trading.
Turnover was high at 2 billion rupees.
Over half the turnover was driven by John Keells Holdings, with 8.4 million of the firm’s shares changing hands 1 rupee higher at 157 rupees per share.
Brokers said foreigners were selling, continuing a trend seen over the past two months.
CT Holdings contributed to around a third of the turnover, trading 50 cents higher at 174 rupees per share.
Brokers said the trades were likely internal transfers between major shareholders which were seen in recent weeks.
(Colombo/Feb11/2019 – Updated 10:43)