Sri Lanka rupee flat, stocks plunge at open

ECONOMYNEXT – Sri Lanka rupee was quoted flat at 185.80/95 to US dollar in the spot market from Thursday’s close while bond yields eased after the monetary policy rate cut and stocks fell, dealers and brokers said.

In equities the Colombo’s All Share Price Index declined 1.49 percent or 75.94 points at 5,014.47 in the first hour and half into trading.

The S&P SL20 index of more liquid stocks fell 2.20 percent or48.47 points to 2,157.19.

The market turnover was 1.6 billion rupees with 18 stocks gaining and 148 falling.

John Keells Holdings contributed most to ASPI’s fall, declining 3.10 rupees a share to trade at 110.90 rupees.

Among the others which contributed to the ASPI plunge were, Dialog Axiata trading at 11.10 rupees a share, down 20 cents and Commercial Bank of Ceylon, down 1.60 rupees to trade at 75.00 rupees a share.

On the other end, Ceylon the Lanka Hospitals Corporation PLC stocks gained 90 cents (2.57percent) rupees to trade at 35.90 rupees a share.

In the secondary government securities market, gilt yields were down in active trading, dealers said.

Dealers said the maturities ranging from 2022 to 2024 were seen liquid in the market for the day.

Sri Lanka’s Central Bank cut its monetary policy rate by 100 basis points bringing the rate at which money is injected to the banking system at 5.50 percent and the rate at which excess money is withdrawn to 4.50 percent yesterday.





A 2-year bond maturing on 15.12.2022 quoted at 5.50/55 percent on Friday, unchanged from 5.50/53 percent at Thursday’s close.

A bond maturing on 15.01.2023 was quoted at 5.55/60 percent, easing from 5.60/63 percent at Thursday’s close.

A bond maturing on 15.09.2024 was quoted at 6.25/30 percent, down from 6.28/34 percent at Thursday’s closing.

A bond maturing on 01.05.2025 was quoted at 6.35/40 percent on Friday, slipping from 6.45/53 percent at Thursday’s closing.

A bond maturing on 01.02.2026 was quoted at 6.45/55 percent, down from 6.60/70 percent.

A bond maturing on 15.10.2027 was quoted at 6.75/83 percent, unchanged from 6.75/83 percent at Thursday’s end. (Colombo/July10/2020)

Tags :

Latest Comments

Your email address will not be published. Required fields are marked *