Sri Lanka rupee opens weaker, stocks fall
Friday April 5, 2019 10:21
ECONOMYNEXT- Sri Lanka’s rupee opened weaker at 174.70/78 to the US dollar in the spot market Friday morning, while stocks fell and bond yields were stable, dealers and brokers said.
The rupee closed at 174.70/85 to the US dollar in the spot market on Thursday.
At the Colombo Stock Exchange, the All Share Price Index (ASPI) fell 6.56 points to 5,646.87 in the first half hour of trading.
The more liquid S&P SL20 Index was down 4.73 points to 2,752.33.
Market turnover was 179.9 million rupees, with 33 stocks gaining and 21 falling.
Selling pressure on diversified Hemas Holdings and John Keells Holdings was weighing down the ASPI.
Hemas Holdings share was trading 4 rupees lower at 74.50 rupees and John Keells Holdings share was trading 1 rupee lower at 154 rupees.
Hatton National Bank was trading 2.10 rupees lower at 178 rupees a share, also pulling down the index.
The three index-heavy stock generated 93 percent of the turnover.
The government bonds market was somewhat active with rates remaining stable, dealers said.
Twelve month bills were quoted at 10.00/15 percent on Friday, unchanged from Thursday’s close.
A newly issued bond maturing on 15.03.2022 was quoted at 10.48/52 percent, down from 10.52/57 percent.
A bond maturing on 15.07.2023 was quoted at 10.70/78 percent, unchanged from the previous close.
A 5-year bond maturing on 15.03.2024 was quoted at 10.80/85 percent, easing from 10.82/87 percent.
A bond maturing on 01.08.2026 was quoted at 11.92/98 percent on Thursday, stable compared to 10.92/00 percent at Friday’s close.
New bond maturing on 15.01.2027 was quoted at 11.02/08 percent, stable from 11.02/07 percent.
A bond maturing on 01.09.2028 was quoted at 11.15/25 percent, up from 11.10/25 percent.
A bond maturing on 01.05.2029 was quoted at 11.20/25 percent, unchanged from the previous close. (Colombo/Apr05/2019-SB)