Saturday December 15, 2018

Sri Lanka stocks gain, rupee opens weaker

Jul 11, 2018 10:10 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - The Sri Lanka rupee opened marginally weaker against the US dollar on Wednesday, while gilt-yields were unmoved on subdued sentiments as stocks gained in early trading, brokers and dealers said.

The rupee was quoted at 159.35/45 rupees against the US dollar in the spot market, weakening from Tuesday's 159.30/35 closing, dealers said.

Gilt-yields remained unchanged from the previous day with trades drying up in the secondary market for government securities early Wednesday, dealers said.

A five-year bond maturing in 2023 was quoted at 10.42/52 percent and a ten-year bond maturing in 2028 was quoted at 10.70/90 percent.

In equities, the Colombo All Share index opened 0.13 percent higher gaining 7.65 points to 6,085.02, and the S&P SL20 of more liquid stocks gained 0.50 percent, up 16.42 points to 3,322.01.

Market turnover was 202.5 million rupees within the first half-hour of trading, higher than the previous full-day's turnover of 142.7 million rupees.

John Keells Holdings was unchanged at 142 rupees accounting for a quarter of market turnover in early trading.

Lanka Indian Oil Company gained 20 cents to 32.40 rupees and Lankem Developments was 20 cents higher at 5.40 rupees.

Commercial Bank was 3 rupees higher at 128 rupees and Expolanka Holdings gained 10 cents to 4 rupees. (COLOMBO, 11 July 2018)