Sri Lanka rupee close firmer, bond yields down

ECONOMYNEXT – Sri Lanka rupee closed firmer at 185.80/00to the US dollar in the spot next market on Friday while gilt yields fell in the overall market, dealers said.

The rupee closed at 186.10/40 in the spot next to the US dollar on Thursday.

In equities, Sri Lanka stocks closed 0.59 percent on Browns Investment, Laughs Gas Plc and Commercial Bank, Colombo Stock Exchange data showed.

Colombo’s All Share Price Index gained 0.59 percent or 37.57 points up to close at 6,397.56.

The S&P SL20 index of more liquid stocks gained 0.63 percent or 15.91 points up closing at 2,534.74.

The main index started on a positive note and continued an upward trend throughout the day coming to an intra-day high at 6,408.18 right before market close.

The market turnover was 3.2 billion rupees with 142 stocks making gains while 63 stocks making losses.

Browns Investments PLC shares closed 10 cents up at 2.70 rupees a share, contributing most to the ASPI’s gain. Laughs Gas PLC shares closed at 24.90 rupees, up 4.00 rupees while Commercial Bank of Ceylon stock closed 1.20 rupees up at 81.80 rupees a share, also contributing to the ASPI’s gain.

Hatton National Bank shares closed40 cents up at 120.20 rupees a share while Sampath bank shares closed 2.00 rupees up at 132.00 rupees a share. DFCC Bank PLC shares went up by 10 cents, closing at 65.50 rupees a share.

Melstacorp fell 1.80 rupees to 40.90 rupees a share while C T Holdings gained 1.90 rupees to trade at 163.90 rupees. Sri Lanka Telecom closed flat at 32.60 rupees while Expolanka Holdings fell 50 cents to 25.70 rupees.

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John Keells Holdings gained 30 cents, closing at 150.00 rupees a share while Distilleries Company of Sri Lanka closed flat 21.50 rupees a share.

In the secondary securities market, bond yields fell in moderate market activity.

Sri Lanka announced that tourists from countries that begin to administer the WHO-approved vaccination will be admitted to the country yesterday.

The market surged following the announcement by minister of Tourism Prasanna Ranatunga.

A 2-year bond maturing on 15.12.2022 closed at 5.70/77 per cent on Friday, down from 5.77/82 per cent at Thursday’s closing.

A bond maturing on 15.01.2023 closed at 5.75/80 per cent, down from 5.82/88 per cent at the previous day’s end.

A bond maturing on 15.09.2024 closed at 6.42/48 per cent, down from 6.45/52 per cent at the previous day’s end.

A bond maturing on 01.05.2025 closed at 6.55/65 per cent, stable from 6.55/70 per cent on Thursday.

A bond maturing on 01.02.2026 closed at 6.70/78 per cent, down from 6.75/80 per cent on Thursday.

A bond maturing on 15.08.2027 closed at 7.10/20 per cent, stable 7.10/20 per cent at yesterday’s end.

A bond maturing on 15.07.2028 closed flat at 7.25/40 per cent on Friday.
(Colombo/Dec04/2020)

 

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