Sri Lanka rupee opens firmer, stocks up 0.36-pct

ECONOMYNEXT – Sri Lanka’s rupee was quoted stronger at 179.00/10 to the dollar, while gilt yields eased and stocks opened 0.36 percent higher, dealers said.

In the spot market, the rupee closed at 179.30/40 to the greenback on Tuesday.

In equities, Colombo’s All Share Price Index gained 22.17 points to 6,164.93 and the S&P SL20 Index of most liquid stocks fell 0.01 percent or 0.30 points to 3,062.61 in the first hour of trade.

Market turnover was 321 million rupees with 64 stocks gaining and 29 falling.

Distilleries Company of Sri Lanka gained 1.50 rupees to 20.00 rupees a share, Melstacorp gained 1.90 rupees to 46.90 rupees a share and Tokyo Cement Company was up 1.60 rupees to 49.70 rupees, contributing to ASPI’s gain.

In the secondary market, gilt yields eased in active trade, dealers said.

A bond maturing on 15.12.2021 was quoted at 8.40/55 percent on Wednesday, stable from 8.40/60 percent at Tuesday’s close.

A bond maturing on 15.07.2023 was quoted at 9.10/15 percent, easing from 9.22/25 percent.

A bond maturing on 15.09.2024 was quoted at 9.38/44 percent, falling from 9.48/54 percent.

A bond maturing on 15.10.2027 was quoted at 9.72/77 percent, down from 9.82/87 percent.

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A bond maturing on 15.09.2034 was quoted at 10.20/30 percent, easing from 10.22/32 percent.
(Colombo/Nov20/2019)

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