Sri Lanka’s rupee opens weaker, gilt yields ease

ECONOMYNEXT – Sri Lanka’s rupee opened weaker at 177.75/80 against the US dollar on Wednesday while stocks gained 0.25 percent and bonds yields eased marginally, dealers said.

The rupee closed at 177.55/65 against the greenback on Tuesday.

In equities, Colombo’s All Share Price Index (ASPI) was up 14.66 points to 5,861.60, and the S&P SL20 Index of more liquid stocks gained 0.95 percent or 27.13 points to 2,887.11, in the first half-hour of trade.

Market turnover was 44 million rupees with 39 stocks gaining and 18 falling.

Odel Plc gained 4.50 rupees to 32.00 rupees a share, Hemas Holdings was up 2.00 rupees to 76.00 rupees a share and Hatton National Bank gained 2.30 rupees to 175.00 rupees a share.

Sri Lanka’s debt office is offering 18.5 billion rupees in an auction to be held today, split in to 2.5 billion rupees in 3-months maturity, 1.5 billion rupees in 6-months maturity and 14.5 billion rupees in 12-months maturity.

In bonds, yields eased marginally in a moderate market ahead of the bills auction, dealers said.

A bond maturing on 15.10.2021 was quoted at 8.73/78 percent on Wednesday, easing from 8.77/83 percent at Tuesday.

A bond maturing on 15.03.2023 was quoted at 38/42 percent, marginally gaining from 9.37/45 percent.

A bond maturing on 15.06.2024 was quoted at 9.78/80 percent, down from 9.80/84 percent.

A bond maturing on 01.08.2026 was quoted at 9.87/95 percent, falling from 9.90/95 percent.

A bond maturing on 15.01.2027 was quoted at 9.97/10.02 percent, down from 10.00/03 percent.

A bond maturing on 01.05.2029 was quoted at 9.97/10.07 percent, easing from 10.00/15 percent.
(COLOMBO, 07 August, 2019)

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