Sri Lanka rupee opens stronger, bond yields flat

ECONOMYNEXT- Sri Lanka’s rupee was quoted stronger at 181.35/40 to the US dollar in the spot market on Friday, while bond yields opened flat and stocks gained 0.10 percent at open, dealers and brokers said.

The rupee closed at 181.50/60 to the greenback on Thursday.

In the equities market, Colombo’s All Share Price Index advanced 6.17 points to 5,990.67 and the S&P SL20 Index of most liquid stocks gained 0.13 percent or 3.67 points to 2,880.57, in the first hour and half into trading.

Market turnover was 265 million rupees with 35 stocks gaining and 33 falling.

Distilleries Company of Sri Lanka Plc was up 30 cents or 1.71 percent to 17.80 rupees a share, contributing most to the ASPI’s gain.

Ceylon Cold Stores Plc opened 9.70 rupees or 1.23 percent up at 800 rupees a share while the John Keells Hotels Plc stock opened 50 cents or 4.76 percent higher at 11.00 rupees a share, also contributing to ASPI’s increase.

In the secondary bond market, yields were flat in moderate trading, dealers said.

A bond maturing on 15.12.2021 was quoted flat at 8.70/85 percent on Friday from Thursday’s close.

A bond maturing on 01.09.2023 was quoted at 9.30/35 percent today unchanged from its last closing yesterday.

A bond maturing on 15.09.2024 was quoted at 9.53/57 percent on Friday, gaining from 9.50/54 percent on Thursday.

A bond maturing on 15.10.2027 was quoted flat at 9.70/75 percent today.

A bond maturing on 15.05.2030 was quoted at 9.85/95 percent unchanged Thursday’s closing.

A bond maturing on 15.09.2034 was also quoted at 9.95/10.05 percent, gaining from 9.90/10.05 from its previous close.

(Colombo/Jan24/2020)