Sri Lanka rupee steady at open, bond yields ease

ECONOMYNEXT- Sri Lanka’s rupee was quoted steady at 181.55/65 to the US dollar in the spot market on Monday from last Thursday while bond yields eased and stocks opened 0.24 percent lower, dealers said.

Markets closed on Friday due to traditional Mahasivarathri holiday.

The Colombo All Share Index fell 14.18 points to 5,816.33, dragged down by CTC stocks.

The S&P SL20 of more liquid stocks was up 0.06 percent or 1.65 points to 2,789.96.

Ceylon Tobacco Company was trading at 1,139.80 rupees a share dropping by 10.40 rupees, contributing the most to the ASPI’s fall.

John Keells Holdings share was 80 cents down to154.70 rupees a share and Distilleries Company of Sri Lanka was up 20 cents to 17.40 rupees a share.
Liquidity in the overnight money market on Thursday was 14.98 billion rupees.

In the secondary government securities market, bond yields eased in moderate trade following a cancellation of a bond auction previously scheduled to happen on the 27th February, dealers said.

Dealers said 2024 maturities remained highly liquid.

A bond maturing on 15.12.2021 was quoted at 8.95/15 percent on Monday, falling from 9.00/15 percent at Thursday’s close.

A bond maturing on 01.09.2023 was quoted at 9.40/55 percent, down from 9.45/60 percent at the previous close.

A bond maturing on 15.09.2024 was quoted at 9.68/75 percent, easing from 9.78/85 percent at the previous day’s end.

A bond maturing on 15.10.2027 was quoted flat at 9.85/10.00 percent, down from 9.90/10.05 percent.

A bond maturing on 15.05.2030 was quoted flat at 9.90/10 percent.

A bond maturing on 15.09.2034 was quoted flat at 9.90/20 percent.

(Colombo/Feb24/2020)