Sri Lanka rupee closes weaker, stocks up

ECONOMYNEXT – Sri Lanka rupee closed weaker at 181.15/30 rupees to the US dollar, while gilt yields were flat and stocks closed 0.05 percent higher, market participants said.

In the spot market, the rupee closed at 180.90/181.00 rupees to the greenback on Friday.

Liquidity in the overnight money market was down to 18.80billion rupees, from 40.63 billion rupees at Friday’s close.

 In equities, Colombo’s All Share Price Index gained 3.26 points to 6,215.23 and the S&P SL20 Index of most liquid stocks fell 0.61 percent or 18.81 points to 3,053.34 at the close.

Market turnover was 702 million rupees with 73 stocks gaining and 75 falling.

Distilleries Company of Sri Lanka gained 70 cents to 19.50 rupees a share, Ceylinco Insurance closed 127.70 rupees higher at 1,943.20 rupees and John Keells Hotels gained 1.40 rupees to 12.30 rupees, contributing to ASPI’s gain.

In the secondary market, gilt yields closed flat in moderate trade, dealers said.

A bond maturing on 15.12.2021 closed flat at 8.65/80 percent on Monday, unchanged from Friday.  

A bond maturing on 15.07.2023 closed at 9.55/65 percent, gaining from 9.50/65 percent on Monday.

A bond maturing on 15.09.2024 closed at 9.83/93 percent, falling from 9.99/95 percent.

A bond maturing on 15.10.2027 closed at 10.02/12 percent, down from 10.10/25 percent on Friday.

A bond maturing on 15.09.2034 closed at 10.30/50 percent, falling from 10.35/55 percent.

(Colombo, 02 December, 2019)