Sri Lanka rupee opens weaker, stocks gain
Apr 10, 2019 10:23 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT- Sri Lanka's rupee opened weaker at 174.75/85 to the US dollar in the spot market Wednesday, while stocks gained and bond yields were stable, market participants said.
The rupee closed at 174.70/85 to the US dollar in the spot market on Tuesday
At the Colombo Stock Exchange, the All Share Price Index was up 5.86 points to 5,589.52 in the first half hour of trading, after reaching a high of 5,590.24.
The more liquid S&P SL20 Index was up 2.65 points to 2,723.06.
Market turnover was 36.5 million rupees, with 20 stocks gaining and 12 falling.
Asian Hotels and Properties contributed to the ASPI gain, opening 2 rupees higher at 43 rupees a share, before falling flat to 41 rupees a share.
LOLC Finance was up 30 cents to 3.60 rupees a share, also contributing to the benchmark index gain.
Dialog Axiata was the most traded, accounting for two thirds of the turnover, and was up 20 cents to 9.30 rupees a share.
The government securities market was active ahead of a bill auction later today, with bond yields trading around the same levels as Tuesday, dealers said..
A bond maturing on 01.08.2021 was quoted at 10.35/45 percent on Wednesday, down from 10.40/47 percent at Tuesday's close.
A newly issued bond maturing on 15.03.2022 was quoted at 10.55/65 percent, stable from 10.55/60 percent.
A bond maturing on 15.07.2023 was quoted at 10.77/85 percent, down from 10.80/85 percent.
A 5-year bond maturing on 15.03.2024 was quoted at 10.90/93 percent, stable from 10.90/95 percent.
New bond maturing on 15.01.2027 was quoted at 11.08/15 percent, down from 11.10/17 percent.
A bond maturing on 01.05.2029 was quoted at 11.30/35 percent, up from 11.27/33 percent. (Colombo/Apr10/2019)