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Sri Lanka rupee flat, stocks gain at open

ECONOMYNEXT – Sri Lanka rupee opened flat at 186.60/75 to the US dollar on Monday while bond yields continued to fall and stocks opened 1.41 percent up, dealers said brokers said.

Rupee closed on Monday at 186.60/70 against the greenback.

In equities market, Colombo’s All Share Price Index (ASPI) advanced 32.74 points up at 5,079.24.

The S&P SL20 index of more liquid stocks opened 1.41 percent or 31.33 points higher at 2,252,68.

Market turnover amounted to 613.3 million rupees with 78 stocks making gains and 32 stocks falling.

Dialog Axiata shares dragged the ASPI up trading 40 cents higher at 11.90 rupees a share.

Melstacorp shares traded 1.80 rupees higher at 31.50 rupees a share, while John Keells Holdings went up by 80 cents to trade at 120.10 rupees a share.

In the secondary government securities market, yields came down in an active market, dealers said.

Dealers said that almost all maturities were highly liquid.

A bond maturing on 01.08.2021 was not quoted in morning trade whereas it closed at 5.70/90 percent at the previous day’s close.

A new 2-year bond maturing on 15.12.2022 was quoted at 6.05/10 percent, sliding from 6.18/23 percent at Monday’s end.

A bond maturing on 15.01.2023 was quoted at 6.10/15 percent, falling from 6.25/30 percent.

A bond maturing on 15.09.2024 was quoted at 6.75/80 percent, easing from 6.90/7.00 percent at the previous day’s close.

A bond maturing on 01.05.2025 was quoted at 6.95/7.00 percent on Tuesday, down from 7.10/17 percent at yesterday’s end.

A bond maturing on 01.02.2026 closed at 7.07/12 percent, down from 7.25/30 percent at Monday’s end.

A bond maturing on 15.10.2027 was quoted at 7.15/25 percent, down from 7.35/45 percent at the previous day’s close.

(Colombo/June23/2020)

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