Sri Lanka rupee ends firmer, stocks up 1.84-pct on JKH

ECONOMYNEXT – Sri Lanka’s rupee closed stronger at 180.60/70 to the US dollar on Thursday, while gilt yields remained steady and stocks closed 1.34-percent higher, dealers said.

In the spot market, the rupee closed at 180.80/181.00 to the greenback on Thursday.

Liquidity in the overnight money market was 45.98 billion rupees, up from 39.07 billion rupees at Wednesday’s close.

Central bank mopped up 21.40 billion rupees at 7.50 percent in an overnight repo auction.

In equities, Colombo’s All Share Price Index gained 82.25 points to 6,201.12 and the S&P SL20 Index of more liquid stocks was up 1.59 percent or 47.99 points to 3,069.23.

Market turnover was 2.7 billion rupees with 119 stocks gaining and 63 falling.

John Keels Holdings closed 3.90 rupees up at 167.40 rupees a share, Ceylon Tobacco Company gained 19.90 rupees to 1149.90 rupees a share and Dialog Axiata ended 50 cents up at 13.40 rupees a share, contributing to ASPI’s gain.

In the secondary market, gilt yields mostly remained steady in an active market, dealers said.

A bond maturing on 15.12.2021 closed at 8.60/88 percent on Thursday, easing from 8.65/80 percent at Wednesday’s close.

A bond maturing on 15.07.2023 closed flat at 9.25/35 percent.

A bond maturing on 15.09.2024 closed at 9.70/80 percent, up from 9.63/65 percent.

A bond maturing on 15.10.2027 closed at 9.95/10.05 percent, gaining from 9.85/95 percent.
A bond maturing on 15.09.2034 remained unchanged at 10.25/40 percent.
(Colombo/Nov28/2019)