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Sri Lanka rupee opens weaker, stocks gain

ECONOMYNEXT – Sri Lanka rupee was quoted weaker at 185.75/82 to the US dollar in the spot market on Friday while bond yields were flat and stocks gained, dealers and brokers said.

Rupees closed at 185.75/82 to the US dollar on Thursday.

In equities market, Sri Lanka stocks advanced 0.74 percent on Friday, provisional data showed.

Colombo’s main All Share Price index (ASPI) climbed 36.44 points to 4,989.98 in the first hour into trading.

The S&P SL20 index of more liquid stocks was up 1.32 percent or 28.16 points at 2,154.79.

Market turnover amounted to 181 million rupees with 77 stocks making gains while 13 stocks made losses.

John Keells Holdings contributed most to ASPI’s gain trading at 111.50 rupees a share, up 1.60 rupees (1.46 percent).

Dialog Axiata stocks profited 20 cents to trade at 11.20 rupees a share while Hatton National Bank stocks advanced 2.20 rupees to trade at 109.00 rupees a share.

In the secondary government securities market, gilt yields remained unchanged in moderate trading, dealers said.

Dealers said that 2025 maturities were seen liquid in the market for the day.

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A 2-year bond maturing on 15.12.2022 was quoted at 5.32/37 percent on Friday, up from 5.30/38 percent at Thursday’s close.

A bond maturing on 15.01.2023 was quoted at 5.35/40 percent, easing from 5.37/45 percent at Thursday’s close.

A bond maturing on 15.09.2024 was quoted at 6.00/07 percent, unchanged from 6.00/08 percent at yesterday’s closing.

A bond maturing on 01.05.2025 was quoted at 6.24/27 percent on Friday, up from 6.00/08 percent at Thursday’s closing.

A bond maturing on 01.02.2026 was quoted at 6.40/43 percent, up from 6.38/43 percent.

A bond maturing on 15.10.2027 was quoted at 6.57/65 percent, up from 6.55/65 percent at Thursday’s end.

(Colombo/July17/2020)

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