Sri Lanka bond yields down, stocks up 0.26-pct
ECONOMYNEXT- Sri Lanka’s bond yields were down on Thursday’s close, while stocks gained 0.26 percent, market participants said.
Both local and foreign buying interest was seen in the government securities market, dealers said.
One year bill yields were quoted at 10.60/70 percent on Thursday, narrower from 10.55/70 percent on Wednesday.
A bond maturing on 15.12.23 was quoted 11.18/23 percent down from 11.25/29 percent.
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A bond maturing on 15.03.25 was around 11.35/40 percent, falling from 11.43/48 percent.
A maturing on 1.9.28 was quoted at 11.43/45 percent, down from 11.50/58 percent.
The All Share Price Index closed 15.78 points up at 5,989.12, while the more liquid stocks in the S&P SL20 Index were up 8.53 points, or 0.28 percent to 3,053.25.
Market turnover was 341.6 million rupees.
There was low foreign participation, with net sales of 7.2 million rupees.
John Keells Holdings, up 2.40 rupees to 154.50 rupees per share on Thursday from the previous close, contributed most to the All Share gain.
Ceylon Tobacco Company stock was up 9.90 rupees to 1,420 rupees and Ceylon Cold Stores was up 13.60 rupees to 699.20 rupees after a slip on Wednesday.
In total, 70 stocks gained and 47 were down on Thursday from a day earlier.
Selling pressure was seen on Dialog Axiata, Sri Lanka Telecom and Softlogic Holdings.
A few negotiated trades were seen on Hunas Falls Hotel, after its new owner issued a mandatory offer on Thursday, which saw the stock gain 7.60 rupees to close at 186.50 rupees.
MTD Walkers was the most active with 1.97 million shares being traded, and gaining 21.74 percent, or 3 rupees to end at 16.80 rupees. (Colombo/Jan17/2019)
Kithmina Hewage- Institute of Policy Studies