Tuesday June 18, 2019

Sri Lanka stocks, gilts open flat; rupee marginally weakens

Sep 25, 2018 10:38 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Markets greeted the week on Tuesday on a dull note with stocks and gilt yields opening flat and the rupee marginally weakening against the US dollar, dealers and brokers said.

The rupee was quoted weaker at 168.70/80 rupees against the US dollar in the spot market Tuesday on low volumes and dull sentiment. The currency was quoted weaker from Friday's wide-range closing quote of 168.30/70 rupees against the greenback. Markets were closed on Monday for Poya.

The rupee had a volatile week starting Monday 17 September opening at 163.60/80 rupees against the US dollar with spot market quotes breaching 169 rupee levels.

Sentiment was dull in the secondary market for government bonds with gilts opening steady, dealers said.

A five-year bond maturing in 2023 opened at 10.55/65 percent, widening from the previous closing of 10.58/65 percent.

A seven-year bond maturing in 2025 was quoted at 10.70/85 percent, marginally higher from the previous closing of 10.70/80 percent.

In equities, Colombo's All Share index opened 0.03 percent lower, down 1.78 points to 5,903.12, and the S&P SL20 of more liquid stocks was up a sharp 0.51 percent, gaining 15.42 points to 3,032.18.

Carson Cumberbatch declining 4.70 rupees to 166 rupees and United Motors, down 4.40 rupees to 81 rupees, weighed down the benchmark index in early trading Tuesday.

Lanka Orix Leasing was down 90 cents to 87 rupees and LOLC Finance declined 10 cents to 3.70 rupees.

Commercial Bank gained 1.40 rupees in early trading to 115.50 rupees and John Keells Holdings was up 50 cents to 130 rupees. (COLOMBO, 25 September 2018)


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