Sri Lanka rupee opens firmer, stocks up 0.82-pct
ECONOMYNEXT – Sri Lanka’s rupee opened stronger at 179.25/35, while gilt yields eased and stocks opened 0.82 percent higher, dealers said.
In the spot market, the rupee closed at 179.50/60 to the greenback on Monday.
In equities, Colombo’s All Share Price Index gained 50.05 points to 6,179.61 and the S&P SL20 Index of more liquid stocks was up 1.31 percent or 39.79 points to 3,085.83, in the first half-hour of trade.
Market turnover was 470.3 million rupees with 105 stocks gaining and 18 falling.
Melstacorp gained 1.90 rupees to 46.30 rupees a share.
Commercial Leasing and Finance was up 30 cents to 3.90 rupees a share and Commercial Bank of Ceylon gained 1.70 rupees to 103.50 rupees a share, contributing to ASPI’s gain.
In the secondary bond market, yields were down in active market trade, dealers said.
Dealers said the yield curve has shifted down by 50-basis points from Friday’s market close.
A bond maturing on 15.12.2021 was quoted at 8.50/70 percent on Tuesday, easing from 8.63/73 percent at Monday’s close.
A bond maturing on 15.07.2023 was quoted at 9.22/30 percent, falling from 9.45/50 percent.
A bond maturing on 15.09.2024 was quoted at 9.55/58 percent, easing from 9.77/82 percent.
A bond maturing on 15.10.2027 was quoted at 9.87/90, down from 10.06/10 percent.
A bond maturing on 15.09.2034 was quoted at 10.30/50 percent, easing from 10.50/60 percent.