Sri Lanka rupee opens weaker, stocks gain

ECONOMYNEXT- Sri Lanka’s rupee was quoted weaker at 181.55/65 to the US dollar in the spot market on Tuesday while bond yields remained flat and stocks opened 0.12 percent higher, dealers said.

The rupee closed at 181.50/60 to the greenback on Monday.

In equities, Colombo’s All Share Price Index gained 6.82 points to 5,821.09 and the S&P SL20 Index of more liquid stocks up 0.41 percent or 11.26 points to 2,780.11, within half-hour of trade.

Market turnover was 67 million rupees with 15 stocks gaining and two falling.

Commercial Bank stocks contributed most to ASPI gaining 2.00 rupees or 2.34 percent to 87.50 rupees a share.

Softlogic Holdings shares gained 30 cents or 2.13 percent to 14.40 rupees a share, while Tokyo Cement Company gained 1.00 rupee to 43.00 rupees a share, also contributing to the ASPI’s gain.

In the secondary government securities market, bond yields held the same rates in moderate trading, a dealer said.

Dealers also said that the 2024 bond maturities were the most liquid.

A bond maturing on 15.12.2021 was quoted at flat at 9.00/15 on Tuesday from Monday’s close.

A bond maturing on 01.09.2023 was quoted at 9.35/50 percent, falling from 9.40/48 percent on Monday’s close.

A bond maturing on 15.09.2024 was quoted at 9.63/70 percent, falling from 9.65/70 percent yesterday.

A bond maturing on 15.10.2027 was quoted at 9.70/85 percent, declining from 9.75/90 percent on Monday.

A bond maturing on 15.05.2030 was quoted at 9.90/10 percent unchanged from its last close.

A bond maturing on 15.09.2034 was quoted at 9.85/10 percent, stable from Monday’s close.

(Colombo/Feb18/2020)