Sri Lanka rupee opens stronger, stocks up

ECONOMYNEXT- Sri Lanka’s rupee opened stronger at 180.10/25 on Friday while bond yields remained stable and stocks opened 0.03 percent higher in the first hour of trade, brokers and dealers said.

The rupee closed at 180.35/45 to the greenback on Thursday.

In equities, Colombo’s All Share Price Index (ASPI) opened 1.59 points higher at 5,981.66.

The S&P SL20 of more liquid stocks opened 0.21 percent or 6.19 points higher at 2,970.97.

Dialog Axiata opened 10 cents higher at 12.70 rupees a share, contributing most to the ASPI’s gain.

Distilleries Company of Sri Lanka opened 10 cents higher at 17.90 rupees per share whereas Asian Hotels and Properties was 1.50 rupees up at 42.50 rupees a share.

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

A bond maturing on 15.12.2021 was quoted flat at 8.70/85 percent on Friday, from Thursday’s close.

A bond maturing on 15.07.2023 was quoted at 9.68/78 percent, unchanged from Thursday.

A bond maturing on 15.09.2024 was quoted at 10.07/10.12 percent, up from 10.05/10.09 percent.

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A bond maturing on 15.10.2027 was quoted flat at 10.30/37 percent.

A 15-year bond maturing on 15.09.2034 was quoted flat at 10.70/80 percent from the previous closing. (Colombo/Nov15/2019)

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