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Sri  Lanka rupee firmer, stocks fall at open

ECONOMYNEXT – Sri Lanka rupee was quoted firmer at 186.05/15 to US dollar in the spot market on Thursday while bond yields were flat and stocks opened lower, dealers and brokers said.

Rupee closed at 186.15/25 to the greenback on Wednesday.

In equities the Colombo’s All Share Price Index fell 0.81 percent or 41.70 points to 5,106.71 in the first hour of trading.

The S&P SL20 index of more liquid stocks fell 1.39 percent or 31.50 points to at 2,225.05.

The market turnover was 403.4 million rupees with 30 stocks gaining and 56 falling.

John Keells Holdings contributed most to the fall of ASPI, dropping 3.50 rupees to 117.90 rupees a share.

Dialog Axiata shares traded 40 cents down at 11.00 rupees while Ceylon Tobacco stocks fell 9.20 rupees to trade at 950.00 rupees a share, also contributing to the ASPI’s plunge.

In the secondary government securities market, gilt yields were flat from yesterday’s closing in moderate trading, dealers said.

Dealers said that high liquidity was seen in 2022 to 2027 maturities.

A 2-year bond maturing on 15.12.2022 was quoted at 5.78/85 percent on Thursday, down from 5.80/85 percent at Wednesday’s close.

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A bond maturing on 15.01.2023 was quoted at 5.90/95 percent, gaining from 5.88/93 percent a day earlier.

A bond maturing on 15.09.2024 was quoted at 6.40/47 percent, unchanged from yesterday’s closing.

A bond maturing on 01.05.2025 was quoted at 6.55/65 percent on Thursday, sliding from 6.57/65 percent.

A bond maturing on 01.02.2026 was quoted at 6.70/80 percent, stable from 6.70/78 percent.

A bond maturing on 15.10.2027 was quoted at 6.90/7.00 percent, easing from 6.90/98 percent at Wednesday’s end.

(Colombo/July02/2020)

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