Sri Lanka rupee opens steady, stocks gain
ECONOMYNEXT- Sri Lanka’s rupee was quoted steady at 181.45/55 to the US dollar in the spot market on Monday while bond yields remained flat and stocks opened 0.11 percent higher, dealers said.
The rupee closed at 181.45/52 to the greenback on Friday.
In equities, Colombo’s All Share Price Index gained 6.15 points to 5,835.86 and the S&P SL20 Index of more liquid stocks up 0.42 percent or 11.66 points to 2,784.92, within half-hour of trade.
Market turnover was 17.1 million rupees with 16 stocks gaining and 11 falling.
Dialog Axiata stocks contributed most to ASPI gaining 20 cents to 12.80 rupees a share.
Commercial Bank shares gained 90 cents to 86.40 rupees a share, while Brown Investment gained 10 cents to 5.10 rupees a share, also contributing to the ASPI’s gain.
In the secondary government securities market, bond yields held the same rates as the market held on after the initial reaction to the announcement of the supplementary budget last week, a dealer said.
Dealers also said that the 2024 bond maturities were the most liquid.
A bond maturing on 15.12.2021 was quoted at flat at 8.80/9.00 on Monday from Friday’s close.
A bond maturing on 01.09.2023 was quoted at 9.30/40 percent, gaining form 9.25/35 percent on Friday’s close.
A bond maturing on 15.09.2024 was quoted at 9.55/65 percent, falling from 9.57/63 percent at
A bond maturing on 15.10.2027 was quoted flat at 9.70/85 percent.
A bond maturing on 15.05.2030 was quoted at 9.85/9.00 percent unchanged from last week’s close.
A bond maturing on 15.09.2034 was quoted at 9.85/10.05 percent, stable from Friday’s close.
Kithmina Hewage- Institute of Policy Studies