Sri Lanka rupee opens stronger, stocks up 0.36-pct

ECONOMYNEXT – Sri Lanka rupee opened stronger at 184.90/20 while stocks opened 0.36 percent up on Monday dragged by Distilleries Company of Sri Lanka, dealers and brokers said.

The rupee closed at 185.45/55 to the greenback on Thursday in the spot market.

Sri Lanka’s equity and secondary markets opened after thee-day holiday after closing on Friday due to Poson Poya religious holiday.

In the equities market, Colombo’s All Share Price Index (ASPI) gained 17.10 points to 4,798.13.

However, S&P SL20 index of more liquid stocks climbed 1.16 percent or 22.65 points to 1,977.22.

Market turnover amounted to 325.4 million rupees with 29 stocks gaining and 8 making losses.

The main contributor to ASPI’s gain, Distilleries Company of Sri Lanka stock traded at 14.90 rupees a share, up 14.90 rupees on Monday.

Dialog Axiata stocks gained 20 cents to trade at 10.20 rupees a share while Commercial Bank of Ceylon stocks were up 63.70 rupees to1.00 rupee a share, also contributing to ASPI’s gain.

In the secondary government securities market, bond yields were up in dull trade, dealers said.

A bond maturing on 10.08.2021 was quoted at 6.90/10 percent on Monday, down from 6.95/05 percent at Thursday’s close.

A new 2-year bond maturing on 15.12.2022 was quoted at 7.77/80 percent, up from 7.67/70 percent.

A bond maturing on 15.01.2023 was quoted 7.83/90 percent, up from 7.70/75 percent.

A bond maturing on 15.09.2024 was quoted 8.37/45 percent, up from 8.35/37 percent at the last closing.

A bond maturing on 15.10.2027 was quoted at 8.85/90 percent, unchanged from 8.85/87 percent at Thursday’s close.

(Colombo/June08/2020)

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