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Sri Lanka rupee opens slightly weaker, stocks gain

ECONOMYNEXT- Sri Lanka’s rupee was quoted slightly weaker at 181.30/40 to the US dollar in the spot market on Friday, while bond yields opened flat and stocks gained 0.09 percent, dealers and brokers said.

The rupee closed at 181.20/30 to the greenback on Thursday.

In the equities market, Colombo’s All Share Price Index advanced 5.05 points to 5,946.04 and the S&P SL20 Index of most liquid stocks gained 0.02 percent or 0.67 points to 2,807.89, in the first half-hour into trading.

Market turnover was eight million rupees with 13 stocks gaining and 11 falling.

Index-heavy John Keells Holdings was up 1.50 rupees or 0.91 percent to 165.50 rupees a share, contributing most to the ASPI’s gain.

Asian Hotels &Properties Plc gained 1.90 rupees or 5.07 percent to 39.40 rupees a share while the Softlogic Holdings Plc stock climbed 50 cents or 3.33 percent to 15.50 rupees a share, also contributing to ASPI’s increase.

In the secondary bond market, yields were flat in moderate trading, dealers said.

A bond maturing on 15.12.2021 was quoted at 8.70/90 percent on Friday, unchanged from Thursday’s close.

A bond maturing on 01.09.2023 was quoted flat at 9.35/40 percent, from its last closing.

A bond maturing on 15.09.2024 was quoted at 9.55/58 percent, gaining from 9.52/57 percent yesterday.

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A bond maturing on 15.10.2027 was quoted at 9.72/78 percent on Friday falling from 9.73/78 percent on Thursday’s close.

A bond maturing on 15.05.2030 was quoted flat at 9.90/95 percent today.

A bond maturing on 15.09.2034 was also quoted stable at 10.00/10 percent from its previous close.

(Colombo/Jan17/2020)

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