Sri Lanka rupee opens steady, stocks fall
Tuesday May 7, 2019
ECONOMYMEXT – The Sri Lanka rupee opened flat at 177.50/70 rupees to the US dollar in the spot market Tuesday, while gilt yields gained, and stocks fell 0.14 percent from selling interest in Sri Lanka Telecom and Commercial Bank of Ceylon, market participants said.
The rupee closed Monday in the spot market at 177.50/70 rupees against the greenback after being active for a brief while.
Gilts yields were higher.
A bond maturing in 2021 opened steady at 9.98/10.02 percent, and a bond maturing in 2022 opened at 10.08/13 percent, flat from the previous closing of 10.08/15 percent.
The 2023 maturity opened higher at 10.40/45 percent, up from the previous closing of 10.38/49 percent, and a bond maturing in 2024 opened lower at 10.60/63 percent, down from 10.61/69 percent.
The bond maturing in 2029 opened higher at 11.00/04 percent, up from Monday’s closing of 10.98/11.05 percent.
In equities, Colombo’s All Share was 7.62 points lower, at 5,378.65 in the first half hour of trading while S&P SL20 of more liquid stocks fell 0.01 percent, down 0.25 points at 2,586.95.
Market turnover was 57.6 million rupees, with 13 stocks gaining and 27 declining.
Sri Lanka Telecom stock was flat at 22.50 rupees and Commercial Bank of Ceylon up 0.10 cents to 92 rupees.
(COLOMBO, 7 May, 2019-SB)