Sri Lanka rupee ends weaker, stock close 0.58-pct lower

ECONOMYNEXT – Sri Lanka’s rupee closed weaker at 180.85/181.00 to the US dollar on Monday, while gilt yields gained marginally and stocks closed 0.58 percent lower, dealers said.

In the spot market, the rupee closed at 180.00/20 to the greenback on Friday.

Liquidity in the overnight money market was 35.44 billion rupees, up from 26.40 billion rupees at Friday’s close.

In equities, Colombo’s All Share Price Index fell 35.53 points to 6,083.74 and the S&P SL20 Index of most liquid stocks was down 0.60 percent or 18.05 points to 3,003.95.

Market turnover was 662 million rupees with 34 stocks gaining and 118 falling.

Crossings in Sampath Bank and Aitken Spence contributed 89.8 million rupees to the turnover.

Distilliers Company of Sri Lanka fell 80 cents to 18.60 rupees per share at close, dragging ASPI down.

Sri Lanka Telecom closed 1.20 rupees lower at 31.70 rupees a share and Carson Cumberbatch fell 9.70 rupees to 175.00 rupees a share.

In the secondary market, gilt yields marginally up in moderate trade, dealers said.

A bond maturing on 15.12.2021 closed at 8.65/75 percent on Monday, up from 8.60/80 percent at Friday’s close.

A bond maturing on 15.07.2023 closed at 9.20/35 percent, gaining from 9.12/17 percent.

A bond maturing on 15.09.2024 closed at 9.57/65 percent, up from 9.50/55 percent.

A bond maturing on 15.10.2027 closed at 9.93/10.00 percent, gaining from 9.80/85 percent on Friday.

A bond maturing on 15.09.2034 closed at 10.25/40 percent, stable from 10.25/40 at the previous close.
(Colombo/Nov25/2019)

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