Sri Lanka rupee opens firm, stocks up 0.16-pct
ECONOMYNEXT – Sri Lanka rupee opened stronger at 176.50/60 on Thursday, while bonds yields were stable and stocks opened higher at 0.16 percent, market participants said.
The rupee ended around 176.45/55 to the US dollar on Tuesday.
Sri Lanka’s rupee is generally facing pressure to appreciate in 2019 after private bank credit slowed.
In the secondary market, gilt yields were steady in dull market trade, dealers said
A bond maturing on 15.12.2021 was quoted flat at 9.55/65 percent on Thursday.
A bond maturing on 15.03.2023 was quoted at 9.95/10.10 percent, down from Tuesday’s 10.00/10 percent.
A bond maturing on 15.03.2024 was quoted 10.12/20 percent, up from Tuesday’s 10.10/18 percent.
A bond maturing on 01.08.2026 was quoted 10.35/45 percent, down from 10.42/50 percent previous close.
A bond maturing on 15.01.2027 was quoted 10.45/60 percent, down from 10.50/54 percent.
A 10-year bond maturing on 01.05.2029 was quoted at 10.55/70 percent, steady from 10.55/63 percent.
In equities, Colombo’s All Share Price Index opened higher 8.54 points to 5.285.86 and the S&P SL20 of more liquid stocks gained 0.03 percent or 0.68 points to 2,447.07
Market turnover was 11.9 million rupees with 19 stocks gaining and 16 stocks declining.
Melstacorp PLC was up 90 cents to 40.90 rupees a share, Commercial Credit and Finance PLC gained 50 cents to 25.00 rupees and SMB Leasing PLC was 10 cents up at 40 cents.
(COLOMOBO, 6 June 2019)