Sri Lanka rupee opens weaker, stocks gain

ECONOMYNEXT– The Sri Lanka rupee opened slightly weaker at 179.40/70 to the US dollar, while stocks opened 0.10 percent higher and bond yields held the same rate, dealers said.

The rupee closed at 179.00/30 against the greenback in the spot market Friday.

In equities, Colombo’s All Share Price Index (ASPI) gained 6.16 points to 5,896.02 and the S&P SL20 Index of more liquid stocks was up 0.68 percent or 19.78 points at 2,928.22.

The market turnover was 143 million rupees, with 27 stocks gaining and 23 falling.

Browns Investment gained 40 cents to 4.40 rupees a share, LOLC Holdings was up 1.70 rupees at 131.00 rupees a share and LOLC Finance gained 10 cents to 3.80 rupees a share, contributing to ASPI’s gain.

In the secondary bond market, gilt yields remained unchanged in dull trading, dealers said.

A bond maturing on 15.10.2021 was quoted at 8.85/95 percent on Monday, unchanged from Friday.

A bond maturing on 15.03.2023 remained unchanged at 9.70/80 percent.

A bond maturing on 15.06.2024 was quoted at 9.95/10.00 percent, stable from 9.95/98 percent.

A bond maturing on 01.08.2026 was quoted flat at 10.02/12 percent.

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A bond maturing on 15.01.2027 remained unchanged at 10.05/15 percent.

A bond maturing on 01.05.2028 was quoted at 10.10/25 percent, up from 10.05/15 percent.

A 20-year bond maturing on 15.08.2039 was quoted at 10.10/30 percent, gaining from 10.05/15 percent.
(COLOMBO, 02 September 2019)

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