Sri Lanka rupee opens stronger, stocks flat

ECONOMYNEXT – The Sri Lanka rupee strengthened against the US dollar in opening trades Tuesday, with gilt yields edging higher and stocks opening flat amidst buying interest in HNB, Softlogic Holdings and Softlogic Life Insurance, brokers and dealers said.

The rupee opened stronger at 162.10/25 rupees against the US dollar in early spot market trading Tuesday on banks selling the greenback and export conversions in low volumes, dealers said.

The US dollar closed Monday at 162.35/50 rupees.

Gilt yields edged higher in opening trades in the secondary bond market for government bonds.

A five-year bond maturing in 2023 opened at 10.02/07 percent in two-way quotes, up from the previous day’s closing of 9.97/10.03 percent.

A ten-year bond maturing in 2028 was quoted at 10.30/45 percent, up from the previous closing of 10.27/37 percent.

Equities opened flat with the Colombo’s All Share index gaining 0.04 percent, up 2.49 points to 6,099.03 in early trading Tuesday. The S&P SL20 of more liquid stocks fell 0.53 percent, down 17.15 points to 3,199.67.

HNB gained 2.80 rupees to 225 rupees and Softlogic Holdings was up 70 cents to 21.20 rupees.

Softlogic Life Insurance gained 80 cents to 27.30 rupees. (COLOMBO, 11 September 2018)





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