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Sri Lanka open higher on banks, gilt yields steady

ECONOMYNEXT- Sri Lanka’s stocks opened 0.77 percent higher, while the rupee opened weaker at 176.10/20 against the US dollar on Thursday and bond yields were stable, said.

The rupee closed at 176.20/30 against the greenback on Wednesday.

In equities, the All Share Price Index gained 44.09 points to 5,790.06 and the S&P SL20 Index of more liquid stocks was 2.16 percent or 60.70 points up at 2,870.76 in the first half-hour of trade.

Market turnover was 70.5 million rupees with 59 stocks gaining and 9 declinings.

Commercial Bank of Ceylon gained 4.60 rupees to 108.50 rupees a share, Sampath Bank was 7.60 rupees up at 168.50 rupees a share and John Keells Holdings was 3.10 rupees up at 154.90 rupees a share, contributing to ASPI gain.

In the secondary market, yields were steady in a dull market, dealers said.
A bond maturing on 15.10.2021 was quoted at 8.80/90 percent on Thursday, down from 8.82/88 percent at Wednesday’s close.
A bond maturing on 15.03.2023 was quoted at 9.48/53 percent, steady from 9.48/52 percent.
A bond maturing on 05.06.2024 was quoted at 9.80/82 percent, up from 9.76/80 percent.
A bond maturing on 01.08.2026 was quoted at 9.92/98 percent, gaining from 9.90/96 percent.

A bond maturing on 15.01.2027 was quoted at 9.97/10.00 percent, up from 9.95/10.03 percent.
A 10-year bond maturing on 01.05.2029 was quoted at 10.00/08 percent, down from 10.02/12 percent.

(COLOMBO, 25 July 2019)

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