Sri Lanka rupee gains, stocks fall at open

ECONOMYNEXT- Sri Lanka’s rupee was quoted stronger at 181.10/30 to the US dollar in the spot market on Monday while bond yields were stable and stocks opened 0.05 percent lower, dealers said.

The rupee closed at 181.15/25 to the US dollar in the spot market on Friday.

In equities, Colombo’s All Share Price Index fell 3.12 percent to 6,146.45 and the S&P SL20 Index of more liquid stocks fell 0.06 percent or 1.69 points to 2,998.74, within the first hour of trade.

Market turnover was 39 million rupees with 21 stocks gaining and 23 falling.

John Keells Holdings fell 2.30 rupees to 166.50 rupees a share, LOLC Finance was down 10 cents to 3.80 rupees a share and Browns Investment fell 10 cents to 4.30 rupees a share, contributing to ASPI’s fall.

In the government securities market, the overall market held the same rates, dealers said.

A bond maturing on 15.12.2021 was quoted at 8.65/75 percent on Monday, gaining from 8.60/80 percent on Friday’s close.

A bond maturing on 15.07.2023 was quoted flat at 9.45/55 percent.

A bond maturing on 15.09.2024 was quoted at 9.80/85 percent, up from 9.78/83 percent.

A bond maturing on 15.10.2027 was quoted at 10.08/13 percent, gaining from 10.00/10 percent.

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A bond maturing on 15.09.2034 was quoted at 10.25/45 percent, falling from 10.30/50 percent. (Colombo/Dec09/2019)

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