ECONOMYNEXT – Sri Lanka’s rupee opened stable at 177.95/178.05 against the US dollar on Wednesday, while stocks opened 0.26 percent higher and bond yields eased, dealers said.
The rupee closed at 177.95/10 against the greenback on Tuesday.
In equities, Colombo’s All Share Price Index (ASPI) gained 15.31 points to 5,927.77, and the S&P SL20 Index of more liquid stocks was 0.93 percent or 27.09 points up at 2,941.67, in the first half-hour of trade.
Market turnover was 261 million rupees with 31 stocks gaining and 26 falling.
LOLC Holdings was 4.30 rupees up at 129.90 rupees a share, John Keells Holdings gained 1.60 rupees to 153.70 rupees a share and Asia Hotels and Properties was up 1.80 rupees to 39.90 rupees a share, contributing to ASPI gain.
Sri Lanka’s debt office is offering 18 billion rupees split in 1.5 billion in 3-months maturities, 1.5 billion in 6-months maturities and 15 billion rupees in 12-months maturities, in a weekly bills auction to be held today.
In the secondary bond market, bond yields eased in active trading.
Dealers said short tenor maturities 2021, 2023 and 2024 were the most liquid.
A bond maturing on 15.10.2021 was quoted at 8.90/9.00 percent on Wednesday, down from 9.00/10 percent on Tuesday’s close.
A bond maturing on 15.03.2023 was quoted at 9.55/62 percent, easing from 9.62/66 percent.
A bond maturing on 15.06.2024 was quoted at 9.88/90 percent, falling from 9.90/93 percent.
A bond maturing on 01.08.2026 was quoted at 10.00/10.10 percent, down from 10.05/15 percent.
A bond maturing on 15.01.2027 was quoted at 10.03/13 percent, easing from 10.08/18 percent.
A bond maturing on 01.05.2028 was quoted at 10.10/25 percent, up from 10.05/25 percent.
A 20-year bond maturing on 15.08.2039 was quoted at 10.15/35 percent, stable from 10.15/33 percent. (COLOMBO, 21 August, 2019)