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Sri Lanka rupee opens weaker, gilt yields gain

ECONOMYNEXT – Sri Lanka rupee was quoted weaker at 181.40/45 percent to the US dollar in the spot market on Thursday while bond yields gained and stocks opened 0.02 percent higher, dealers and brokers said.

The rupee closed at 181.35/40 to the greenback on Wednesday.

In the equities market, Colombo’s All Share Price Index (ASPI) gained 0.87 points to 5,943.07 and the S&P SL20 Index of most liquid stocks up 0.36 percent or 10.19 points to 2,851.18 in the first half-hour of trade.

Market turnover was 4.6 million rupees while 11 stocks gained and six fell.

Commercial Bank stocks traded 1.80 rupees or 1.94 percent up at 94.80 rupees a share contributing most to the ASPI gain.

Meanwhile, Browns Investment gained 10 cents to 5.20 rupees a share and United Motors opened 1.50 rupees or 2.61 percent higher at 59.00 rupees a share.

In the secondary government securities market, bond yields gained in active trade, a dealer said.

Dealers said the liquidity centered on the 15.09.2024 and 15.10.2027 bonds auctioned on 30th January.

Sri Lanka’s debt office offered 30,000 million rupees worth of treasury bills on an auction yesterday selling 8.1 billion rupees in six month bills, and sold 17.9 billion rupees in twelve month bills.

A bond maturing on 15.12.21 was quoted at 8.45/70 percent on Thursday, falling from 8.50/65 percent on Wednesday’s close.

A bond maturing on 01.09.2023 was quoted at 9.05/20 percent, climbing from 9.00/15 percent in its previous close.

A bond maturing on 15.09.2024 was quoted at 9.40/44 percent on Thursday, gaining from 9.30/34 percent on Wednesday.

A bond maturing on 15.10.2027 was quoted at 9.60/65 percent up from 9.47/55 percent yesterday.

A bond maturing on 15.05.2030 was quoted at 9.60/75, increasing from 9.50/65 percent on Wednesday’s close.

A bond maturing on 15.09.2034 was quoted at 9.60/80 percent, also gaining from 9.50/70 percent in its last closing.

Call money was quoted at 6.97 / 7.02 percent on Thursday.

(Colombo/Feb06/2020)

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