ECONOMYNEXT – Sri Lanka’s rupee opened weaker at 176.40/50 to the US dollar in the spot market on Thursday, while gilt yields gained and stocks were up 0.14 percent in the first hour of trading, dealers and brokers said.
The rupee closed at 176.30/40 to the US dollar in the spot market on Wednesday.
The bond market was moderately active with yields gaining, dealers said. Sri Lanka’s bonds have been falling in recent days with a rate cut widely expected on Friday.
In the secondary market, a bond maturing on 15.12.2021 was quoted at 9.40/50 percent on Thursday, up from 9.35/45 percent at Wednesday’s close in mid-morning trade.
A bond maturing on 15.03.2023 was quoted at 9.85/90 percent, gaining from 9.80/83 percent.
A bond maturing on 15.03.2024 was quoted at 9.97/10.02 percent, up from 9.92/97 percent.
A bond maturing on 01.08.2026 was quoted at 9.22/32 percent, steady from 10.22/28 percent.
A bond maturing on 15.01.2027 was quoted at 10.34/390 percent on Thursday, up from 10.28/35 percent at the previous close.
A 10-year bond maturing on 01.05.2029 was quoted at 10.47/53 percent, gaining from 10.46/50 percent.
Stocks were up 0.14 percent in the first hour of trading with the Colombo’s All Share Price Index (ASPI) rising 7.63 point to 5,327 points.
Market turnover was 125 million rupees, with 30 stocks gaining and 6 stocks declining.
Dialog Axiata was up 0.10 cents to 9.40 rupees a share, Commercial Bank of Ceylon PLC was 0.30 cents up at 92.40 rupees and Sri Lanka Telecom PLC was up 0.20 cents to 23.70 rupees, contributing to ASPI gain.
John Keells Holdings, Commercial Bank of Ceylon and Melstacorp PLC contributed 50 percent to the market turnover. (COLOMBO/30/05/2019)