Sri Lanka rupee marginally stronger, stocks gain at open

ECONOMYNEXT – Sri Lanka rupee was quoted marginally stronger at 185.80/85 to US dollar in the spot market on Tuesday while bond yields remained unchanged and stocks gained, dealers said.

Rupees closed at 185.85/90 to the US dollar on Monday.

In equities market, Sri Lanka stocks gained 1.03 percent on Tuesday, a half-hour into trading.

Colombo’s main All Share Price ndex (ASPI) advanced 15.69 points at 4,895.45, provisional data showed.

The S&P SL20 index of more liquid stocks climbed 1.03 percent or 21.27 points at 2,093.37.

Market turnover amounted to 31.8 million rupees with 72 stocks making gains while 12 stocks made losses.

John Keells Holdings pushed the ASPI up, contributing most to its gain by trading at 111.00 rupees a share down by 2.90 rupees.

Commercial Bank of Ceylon PLC stocks gained 2.20 rupees a share to trade at 73.00 rupees while Distilleries Company of Sri Lanka stocks spiked 40 cents to trade at 14.10 rupees a share, also contributing to the gain of the ASPI.

In the secondary government securities market, gilt yields remained unchanged in moderate trading, dealers said.

Dealers said the 2024 maturities were seen liquid in the market for the day.

A 2-year bond maturing on 15.12.2022 was quoted at 5.40/47 percent on Tuesday, down from 5.42/50 percent at Monday’s close.

A bond maturing on 15.01.2023 was quoted at 5.50/55 percent, unchanged from 5.50/60 percent at Monday’s close.

A bond maturing on 15.09.2024 was quoted at 6.20/23 percent, flat from 6.20/28 percent at yesterday’s closing.

A bond maturing on 01.05.2025 was quoted at 6.35/42 percent on Tuesday, also unchanged from 6.35/40 percent at Monday’s closing.

A bond maturing on 01.02.2026 was quoted at 6.50/60 percent, unchanged from 6.50/60 percent.

A bond maturing on 15.10.2027 was quoted at 6.65/75 percent, unchanged from 6.65/73 percent at Monday’s end.

(Colombo/July14/2020)

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