Sri Lanka rupee opens weaker, bonds market dull

ECONOMYNEXT- Sri Lanka’s rupee opened weaker at 174.70/00 to the US dollar in the spot market on Wednesday, while bond yields were steady in dull trading, dealers said.

The rupee had closed at 174.50/90 to the US dollar in the spot market on Tuesday.

At the Colombo Stock Exchange, the All Share Price Index was down 0.09 percent or 4.92 points to 5,298.08 in the first hour of trading, while the more liquid S&P SL20 Index was up 0.06 percent or 1.66 points to 2,592.57.

Market turnover was 1.2 billion rupees, with 24 stock prices gaining and 30 falling.

Around 90 percent of the turnover was through index-heavy John Keells Holdings (JKH), which was trading 30 cents lower at 140 rupees a share.

Cinnamon Grand, one of the hotels targeted in the Easter Sunday bombings, is a part of the JKH group.

Meanwhile, the bond market was quiet, with stable yields, as the market was awaiting a bill auction later in Wednesday morning, dealers said.