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Sri Lanka rupee opens stronger, stocks gain

ECONOMYNEXT- Sri Lanka’s rupee was quoted stronger at 181.45/55 to the US dollar in the spot market on Thursday, while bond yields remained stable and stocks gained 0.85 percent, dealers and brokers said.

In the equities market, Colombo’s All Share Price Index climbed 49.93 points to 5,948.77 and the S&P SL20 Index of most liquid stocks gained 1.46 percent or 40.72 points to 2,823.17, in the first half-hour of trading.

Market turnover was nine million rupees with 55 stocks gaining and 12 falling.

LOLC Holdings stock advanced 6.70 rupees to 162.10 rupees a share, contributing most to the ASPI’s gain.

Commercial Bank of Ceylon was up 2.00 rupees to 94.00 rupees a share and John Keells Holdings gained 1.40 rupees to 162.50 rupees a share, also contributing to ASPI’s gain.

In the secondary bond market, yields were unchanged in active trading, dealers said.

A bond maturing on 15.12.2021 was quoted flat at 8.65/85 percent on Thursday, from yesterday’s close.

A bond maturing on 15.07.2023 was quoted at 9.25/35 percent, unchanged from Wednesday.

A bond maturing on 15.09.2024 was quoted at 9.62/68 percent declining from 9.65/70 percent on Wednesday.

A bond maturing on 15.10.2027 was quoted at 9.80/87 percent falling from 9.82/87 percent yesterday.

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A bond maturing on 15.05.2030 was quoted at 10.00/20 percent on Thursday, sliding from 10.05/20 percent.

A bond maturing on 15.09.2034 was quoted at 10.05/25 percent, unchanged from the previous closing.

(Colombo/Jan09/2020)

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