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Sri Lanka rupee opens slightly weaker, stocks gain

ECONOMYNEXT- Sri Lanka’s rupee was quoted marginally weaker at 181.30/40 to the US dollar in the spot market on Monday, while bond yields opened flat and stocks gained 0.08 percent, dealers and brokers said.

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

In the equities market, Colombo’s All Share Price Index advanced 4.79 points to 5,937.71 and the S&P SL20 Index of most liquid stocks gained 0.34 percent or 9.40 points to 2,800.46, in the first half-hour into trading.

Market turnover was 11 million rupees with 29 stocks gaining and 16 falling.

Lanka Realty Investments Plc was up 3.80 rupees or 11.11 percent to 38.00 rupees a share, contributing most to the ASPI’s gain.

Brown & Company Plc gained 2.00 rupees or 2.42 percent to 84.50 rupees a share while the Janashakthi Insurance Company Plc stock opened flat at 30.00 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 8.65/85 percent on Monday, unchanged from Friday’s close.

A bond maturing on 01.09.2023 was quoted at 9.32/38 percent, declining from its last closing at 9.35/39 percent.

A bond maturing on 15.09.2024 was quoted flat at 9.55/57 percent on Monday.

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A bond maturing on 15.10.2027 was quoted at 9.75/80 percent on Monday gaining from 9.72/78 percent on last week.

A bond maturing on 15.05.2030 was quoted flat at 9.90/10.00 percent today.

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

(Colombo/Jan20/2020)

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