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Sri Lanka rupee firmer, stocks gain at open

ECONOMYNEXT – Sri Lanka rupee opens firmer at 185.70/80 to US dollar in the spot market on Monday while bond yields were flat and stocks opened higher, dealers and brokers said.

Rupee closed at 185.75/80 to the greenback on Friday.

In equities, the Colombo’s All Share Price Index gain 0.95 percent or 47.26 points to 5,035.76.

The S&P SL20 index of more liquid stocks gained 1.58 percent or 34.00 points to 2,187.50.

The market turnover was 395.4 million rupees with 80 stocks gaining and 8 falling.

John Keells Holdings contributed most to the gain of ASPI, gaining 2.90 rupees to trade at 114.30 rupees a share.

Dialog Axiata shares traded 20 cents up at 11.30 rupees while LOLC Finance stocks gaining 30 cents to trade at 3.50 rupees a share, also contributing to the ASPI’s gain.

In the secondary government securities market, gilt yields were up from Friday’s and the market was dull, dealers said.

Dealers said that high liquidity can be seen in 2022 maturity.

A 2-year bond maturing on 15.12.2022 was quoted at 5.35/38 percent on Monday, up from 5.32/37 percent at Friday’s close.

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A bond maturing on 15.01.2023 quoted at 5.38/43 percent up from 5.37/43 percent at Friday’s close.

A bond maturing on 15.09.2024 was quoted at 6.02/05 percent, up from 6.00/05percent at last week’s closing.

A bond maturing on 01.05.2025 closed at 6.23/28 percent on Monday, up from 6.22/27 percent at Friday’s closing.

A bond maturing on 01.02.2026 closed at 6.40/43 percent, up from 6.38/43 percent.

A bond maturing on 15.10.2027 was quoted at 6.55/65 percent, Unchanged from 6.55/63percent at Friday’s end.(Colombo/July 20/2020)