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Sri Lanka stocks soar 2.8-pct bonds yields higher

ECONOMYNEXT – Sri Lanka’s stocks soared 2.8 percent higher Monday, topping 6,000 points, the rupee closed steady at 185.25/38 to the US dollar Monday while bond yields gained amid a bond auction, dealers and brokers said.

The rupee closed at 185.25/35 to the greenback on Friday.

The Colombo All Share Index rose 169 points to close at 6,028.2 points while the S&P SL20 Index of liquid stocks closed up 0.55 percent at 2,495.7 points.

Top gainer included illiquid Bukit Dara which rose 208 rupees (69 percent) to 505.70 rupees and its parent Carsons Cumberbatch which rose 109 rupees to 364.7 rupees.

On Friday the central bank printed money after failing to sell all offered bills sending its Treasury bill holdings to 322 billion rupees from 305 billion rupees and excess liquidity in money markets to 188 billion rupees from 163 billion on Thursday.

A 2-year bond maturing on 15.12.2022 closed at 6.63/70 percent up from 5.62/67 per cent on Friday.

A bond maturing on 15.01.2023 closed at 5.65/75 percent flat from Friday.

A bond maturing on 15.09.2024 closed at 6.20/30 percent up from 6.12/18 per cent on Friday.

A bond maturing on 01.05.2025 closed at 6.55/60 percent up from 6.38/48 per cent.

A bond maturing on 01.02.2026 closed at 6.65/75 percent was up from 6.62/70 per cent Friday.

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A bond maturing on 15.08.2027 closed at 7.00/10 percent up from 6.90/7.00 per cent.

A bond maturing on 01.07.2028 closed at 7.10/25 up from 7.08/18 per cent.

A 10-year bond maturing on 15.05.2030 closed at 7.38/48 percent up from 7.35/42 per cent Friday. (Colombo/Sept28/2020)