Sri Lanka rupee opens stronger, crossing in Sinhaputhra dominates equities trade

ECONOMYNEXT – Sri Lanka rupee was quoted flat at 181.30/40 rupees to the US dollar on Thursday in the spot market from Wednesday, while gilt yields remained stable and stocks opened 0.06 percent higher, brokers and dealers said.

In equities, Colombo’s All Share Price Index gained 3.44 points to 6,209.84 and the S&P SL20 Index of more liquid stocks was up 0.34 percent or 10.38 points to 3,042.15 within the first hour of trading.

Market turnover was 356 million rupees with 41 stocks gaining and 26 falling.

Melstacorp gained 1.70 rupees to 44.70 rupees a share, Bukit Darah gained 9.50 rupees to 250.00 rupees and John Keells Holdings gained 50 cents to 169.50 rupees, contributing to ASPI’s gain.

There was a negotiated trade (crossing) worth 300 million rupees in Sinhaputhra Finance at 9.5 rupees a share, down 20 cents from its opening which dominated the early morning trade.

The crossing was for a controlling 50.3 percent of the firm.

In the secondary bond market, gilt yields were steady in dull trade, dealers said.

A bond maturing on 15.12.2021 was quoted flat at 8.60/80 percent on Thursday.

A bond maturing on 15.07.2023 was quoted unchanged at 9.50/60 percent.

A bond maturing on 15.09.2024 was quoted flat at 9.82/88 percent.

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A bond maturing on 15.10.2027 was quoted unchanged at 10.00/15 percent.

A bond maturing on 15.09.2034 was quoted flat at 10.30/45 percent. (Colombo/Dec05/2019)

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