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Sri Lanka rupee flat, stocks gain at open

ECONOMYNEXT – Sri Lanka rupee was quoted flat at 186.20/30 to US dollar in the spot market on Wednesday from yesterday’s close bond yields were stable and stocks gained, dealers and brokers said.

In equities the Colombo’s All Share Price Index gained 0.08 percent or 4.34 points to 5,153.91 in the first half-hour of trade.

The S&P SL20 index of more liquid stocks fell 0.02 percent or 0.53 points to close at 2,269.30.

The market turnover was 41.8 million rupees with 38 stocks gaining and 16 falling.

Sri Lanka Telecom contributed highest to the gain of ASPI, opening 40 cents higher at 29.30 rupees a share.

Browns Investment PLC shares traded 10 cents up at 2.50 rupees whle Janashakthi Insurance PLC gained 1.10 rupees to trade at 32.00 rupees a share, also contributing to the ASPI’s gain.

Commercial Bank shares traded at 79.00 rupees, down 20 cents, Hatton National Bank shares traded at 113.90 rupees up 60 cents, Sampath Bank stocks were up by 10 cents to 126.50 rupees a share.

Hemas Holdings shares were down 60 cents to 63.00 rupees and John Keells shares were trading at 121.90 rupees, up 60 cents.

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

Dealers said that high liquidity was seen in 2024 maturities.

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A 2-year bond maturing on 15.12.2022 was quoted at 5.80/90 percent on Wednesday.

A bond maturing on 15.01.2023 was quoted at 5.90/6.00 percent, unchanged from a day earlier.

A bond maturing on 15.09.2024 was quoted at 6.45/55 percent, stable from 6.45/50 percent.

A bond maturing on 01.05.2025 was quoted at 6.55/65 percent on Wednesday, sliding from 6.58/68 percent.

A bond maturing on 01.02.2026 was quoted at 6.75/85 percent, down from 6.80/90 percent.

A bond maturing on 15.10.2027 was quoted at 6.95/7.05 percent, unchanged from Tuesday.

(Colombo/July01/2020)

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