Sri Lanka rupee, gilts open flat, stocks higher

ECONOMYNEXT – The Sri Lanka rupee opened flat at 176.75/85 rupees against the US dollar in the spot market Tuesday while bond yields opened at the same level and the stocks were 0.02 percent higher, dealers said.

The rupee closed on Monday at 176.75/85 against the greenback.

Speaker Karu Jayasuriya is expected to meet President Maithripala Sirisena today to resolve a deadlock between the executive and the legislature over a committee that is probing intelligence lapses that led to Easter Sunday suicide bombings, our sister news site RepublicNext reported.

President Sirisena has opposed intelligence officials from giving evidence at the committee.

After refusing to convene a cabinet meeting last week due to the political deadlock, a cabinet meeting was held Tuesday morning.

Meanwhile, in the secondary bond market, gilt yields were holding the same level, dealers said.

A bond maturing on 15.10.2021 was quoted at 9.70/75 percent, easing from 9.75/78 percent on Monday.

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A bond maturing on 15.03.2023 was quoted flat at 10.15/20 percent.

A bond maturing on 15.03.2024 was quoted at 10.28/32 percent, gaining from 10.25/35 percent.

A bond maturing on 01.08.2026 was quoted at 10.48/55 percent, easing from 10.50/60 percent.

A bond maturing on 15.01.2027 was quoted at 10.60/63 percent, gaining from 10.58/55 percent.

A 10-year bond maturing on 01.05.2029 was quoted flat at 10.60/70 percent.

In equities, Colombo’s All Share Price Index was up 0.88 points to 5385.81 and the S&P SL20 of more liquid stocks gained 0.04 percent, or 0.93 points to 2511.31, in the first hour of trade.

The market turnover was 186.5 million rupees, with 23 stocks gaining and 18 declining.

Commercial Bank of Ceylon was up 1.00 rupee to 94.50 rupees a share. Ceylinco Insurance PLC gained 25.00 rupees at 1925.00 rupees a share and Expolanka Holdings PLC was 10 cents up at 4.90 rupees a share, contributing to ASPI gain.
(COLOMBO, 18 June 18, 2019)