Sri Lanka rupee opens stronger, stocks fall

ECONOMYNEXT- Sri Lanka’s rupee was quoted stronger at 181.92/98 to the US dollar in the spot market on Wednesday while bond yields were fell and stocks down 1.16 percent, dealers said.

The rupee ended at 182.08/15 to the greenback on Tuesday.

In equities, Colombo’s All Share Price Index (ASPI) declined 65.22 points to 5,553.19 and the S&P SL20 index of more liquid stocks fell 1.85 percent or 49.14 points to 2,607.61, in the first hour of trade.

The market turnover was 275.5 billion rupees in the meantime 14 stocks gained and 107 fell.

Dialog Axiata stocks quoted lower 60 cents to 11.10 rupees a share, LOLC Holdings declined 3.70 rupees to 129.80 rupees a share and Browns Investment stocks down 30 cents at 4.10 rupees a share, contributing to ASPI’s fall.

In the government securities market, bond yields were down in active trade while 2024 maturities remained liquid, dealers said.

A bond maturing on 15.12.2021 was quoted at 8.60/80 percent on Wednesday, falling from 9.75/95 percent at Tuesday’s close.

A bond maturing on 01.09.2023 was quoted at 9.20/30 percent,down from 9.30/35 percent at its previous close.

A bond maturing on 15.09.2024 was quoted at 9.45/50 percent on Wednesday, falling from 9.62/67 percent at Tuesday’s close.

A bond maturing on 15.10.2027 was quoted at 9.70/75 percent easing from 9.80/95 percent at it’s the previous close.

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A bond maturing on 15.05.2030 remained flat at 9.85/10.05 percent on Wednesday from Tuesday’s close.

A bond maturing on 15.09.2034 was quoted unchanged at 9.85/10.10 percent from its last close.

(Colombo/Mar04/2020)

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