Sri Lanka rupee opens steady, banks stocks weaker
ECONOMYNEXT- Sri Lanka’s rupee was quoted steady at 181.10/20 to the US dollar in the spot market on Monday, while gilt yields were flat and while some banking stocks traded lower in the first hour.
In equities, Colombo’s All Share Price Index fell 1.19 points to 6,043.54 and the S&P SL20 Index of more liquid stocks was 0.22 percent or 6.39 points down to 2,939.50, in the first half-hour of trade.
Market turnover was 27 million rupees with 15 stocks gaining and 16 falling.
Bukit Darah fell 10 cents down to 220.00 rupees a share, Sampath Bank was down 1.90 rupees at 165.00 rupees a share and DFCC Bank fell 2.10 rupees down to 88.00 rupees a share, contributing to ASPI’s fall.
Sri Lanka announced a moratorium on debt up to 300 million rupees taken by small and medium enterprises.
Commercial Bank of Ceylon was down 20 cents to 96.40 rupees a share, Hatton National Bank fell 50 cents to 173.00 rupees a share.
In the secondary bond market, yields were flat, dealers said.
A bond maturing on 15.12.2021 was quoted at 8.75/95 percent on Monday, up from 8.65/95 percent last week.
A bond maturing on 15.07.2023 was quoted flat at 9.50/60 percent, from Friday’s close.
A bond maturing on 15.09.2024 was quoted at 9.87/90 percent, unchanged from Friday.
A bond maturing on 15.10.2027 was quoted at 10.10/18 percent on Monday, gaining from 10.05/15 percent on Friday.
An auctioned 10-year bond maturing on 15.05.2030 was quoted flat at 10.15/30 percent.
A bond maturing on 15.09.2034 was quoted at 10.25/35 percent, steady from the previous close. (Colombo/Dec23/2019)