Sri Lanka rupee opens steady, stocks up
ECONOMYNEXT – The Sri Lanka rupee opened steady at around 178.80/179.30 rupees against the US dollar in early spot market trading Friday, while stocks were higher on buying interest in banking and energy stocks, market participants said.
The rupee closed Friday at 178.90/179.10 against the greenback.
Equities were up 0.16 percent in early trading with Colombo’s All Share index gaining 9.57 points to 6,028.90, and the S&P SL20 index of more liquid stocks was up 0.56 percent, gaining 17.47 points to 3,195.98.
Commercial Bank was up 2.30 rupees to 119.90 rupees and Sampath Bank was up 2 rupees to 239.50 rupees.
Hatton National Bank gained 2.90 rupees to 218 rupees.
Energy stocks Laugfs Gas was up 1.50 rupees to 18.90 rupees and Lanka Indian Oil Company was trading 60 cents higher at 26.70 rupees.
Softlogic Life Insurance was up 1.20 rupees to 36.30 rupees and Softlogic Holdings gained 30 cents to 20.50 rupees.
Bond yields were steady amidst dull activity in early secondary market trading.
A three-year bond maturing in 2021 had closed Friday 11.70/80 percent.
A five-year bond maturing in 2023 ended at 11.80/90 percent and a bond maturing in 2027 closed Friday at 12.20/28 percent. (COLOMBO, 3 December 2018)