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Sri Lanka rupee firmer, stocks fall at open

ECONOMYNEXT – Sri Lanka rupee opens firmer at 185.90/186.00 to US dollar in the spot market on Friday while bond yields were flat and stocks opened lower, dealers and brokers said.

Rupee closed at 186.05/15 to the greenback on Thursday.

In equities the Colombo’s All Share Price Index fell 0.58 percent or 39.37 points to 5,079.36.

The S&P SL20 index of more liquid stocks fell 1.06 percent or 23.68 points to 2,205.26.

The market turnover was 399.4 million rupees with 19 stocks gaining and 70 falling.

John Keells Holdings contributed most to the fall of ASPI, dropping 2.60 rupees to trade at 116.80 rupees a share.

Sampath Bank shares traded 2.90 rupees down at 122.10 rupees while Hemas Holdings stocks fell 1.00 rupees to trade at 60.50 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 2024 maturity.

A 2-year bond maturing on 15.12.2022 was quoted at 5.80/85 percent on Friday unchanged from Thursday’s close.

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A bond maturing on 15.01.2023 quoted at 5.88/98 percent, up from 5.90/95 percent at Thursday’s close.

A bond maturing on 15.09.2024 was quoted at 6.40/45 percent, down from 6.42/47 percent at yesterday’s closing.

A bond maturing on 01.05.2025 was quoted at 6.55/65 percent on Friday, down from 6.57/65 percent at yesterday’s closing.

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, Unchanged from 6.90/7.00 percent at Thursday’s end.(Colombo/July03/2020)

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