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Sri Lanka rupee opens steady, stocks gain

ECONOMYNEXT- Sri Lanka’s rupee was quoted steady at 181.50/60 to the US dollar in the spot market on Wednesday, while bond yields were stable and stocks gained 0.42 percent at open, dealers and brokers said.

In the equities market, Colombo’s All Share Price Index advanced 24.73 points to 5,909.54 and the S&P SL20 Index of most liquid stocks climbed 0.74 percent or 20.83 points to 2,838.56, in the first hour and half into trading.

Market turnover was 35.4 million rupees with 33 stocks gaining and 8 falling.

Index heavy John Keells Holdings Plc gained 1.50 rupees or 0.93 percent to 162.00 rupees a share, contributing most to the ASPI’s gain.

LOLC Holdings Plc opened 2.50 rupees or 1.64 percent up at 154.50 rupees a share while the Browns Investments Plc stock opened 20 cents or 4.08 percent higher at 5.10 rupees a share, also contributing to ASPI’s increase.

In the secondary bond market, yields were stable in moderate trading with maturities 01.09.2023 and 15.09.2024 more active and in demand today, dealers said.

A bond maturing on 15.12.2021 was quoted flat at 8.65/80 percent on Wednesday from its last closing.

A bond maturing on 01.09.2023 was quoted flat at 9.20/25 percent today from Tuesday.

A bond maturing on 15.09.2024 was quoted at 9.38/42 percent on Wednesday, sliding from 9.40/44 percent on Tuesday’s close.

A bond maturing on 15.10.2027 was quoted at 9.55/65 percent today unchanged from yesterday.

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A bond maturing on 15.05.2030 was quoted at 9.77/87 percent up on Tuesday, after closing at 9.75/85 percent on Wednesday.

A bond maturing on 15.09.2034 was quoted at 9.85/10.00 percent, stable from its previous close.

(Colombo/Jan29/2020)

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