Sri Lanka rupee gains, stocks rally on JKH foreign selling
Mar 28, 2019 17:28 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT- Sri Lanka's rupee closed at 176.10/25 to the US dollar in the spot market on Thursday, while stocks gained 0.81 percent and bond yields were stable, brokers and dealers said.
The rupee strengthened to 176.20/35 on Wednesday from 177.40/55 a day earlier.
At the Colombo Stock Exchange, the All Share Price Index gained 44.51 points to close at 5,556.28, ending a two-week slide, while the more liquid S&P SL20 Index closed 32.62 points higher at 2,736.49.
Market turnover was 457.77 million rupees. There was heavy foreign participation, with net outflows of 46.8 million rupees from the market.
Around a third of the turnover was through foreign-to-foreign selling of index-heavy John Keells Holdings (JKH), brokers said.
JKH contributed to the All Share's gain, closing 5.20 rupees higher at 156 rupees per share, after reaching an intra-day high of 157 rupees per share.
The government securities market had moderate trading, with a slight gain in yields in the morning, followed by a return to previous levels towards the afternoon, dealers said.
Twelve-month bills closed at 10.25/35 percent Thursday in mid-morning trade, unchanged from Wednesday.
A bond maturing on 01.08.2021 closed at 10.53/60 percent marginally down from 10.55/60 percent.
A bond maturing on 15.07.2023 closed at 10.85/95 percent, unchanged from the previous close.
A 5-year bond maturing on 15.03.2024 closed at 11.00/02 percent on Thursday, up from Wednesday's 10.98/02 percent.
A bond maturing on 01.08.2026 closed at 11.10/20 percent, up from 11.05/20 percent.
A bond maturing on 15.06.2027 closed at 11.30/35 percent, unchanged from the previous close.
A bond maturing on 01.09.2028 closed at 11.33/40 percent, up from 11.30/38 percent.
A bond maturing on 01.05.2029 closed at 11.40/42 percent up from yesterday's 11.38/42 percent. (Colombo/Mar28/2019)