Sri Lanka rupee opens weaker, stocks up 0.28-pct

ECONOMYNEXT- Sri Lanka’s rupee opened weaker at 181.37/47 to the US dollar in the spot market on Tuesday, while gilt yields eased and stocks opened 0.28 percent higher, brokers and dealers said.

The rupee closed at 181.30/40 to the greenback on Monday.

In equities, Colombo’s All Share Price Index gained 16.98 points to 6,048 and the S&P SL20 index of more liquid stocks gained 0.51 percent or 14.94 points to 2,942.63, in the first hour of trade.

Market turnover was 20 million rupees with 24 stocks gaining and 15 falling.

Distilleries Company of Sri Lanka gained 90 cents to 18.90 rupees a share, Melstacorp up 1.50 rupees to 44.00 rupees a share and LOLC Development Finance gained 9.20 rupees to 54.00 rupees a share, contributing to ASPI’s gain.

In the secondary bond market, yields eased in active trading, dealers said.

A bond maturing on 15.12.2021 was quoted at 8.65/85 percent on Tuesday, down from 8.80/90 percent at Monday’s close.

A bond maturing on 15.07.2023 was quoted at 9.45/55 percent, down from 9.50/60 percent.

A bond maturing on 15.09.2024 was quoted at 9.80/82 percent, falling from 9.87/92 percent.

A bond maturing on 15.10.2027 was quoted at 10.00/10 percent, easing from 10.10/20 percent on Monday.

An auctioned 10-year bond maturing on 15.05.2030 was quoted at 10.10/25 percent, down from 10.15/30 percent.





A bond maturing on 15.09.2034 was quoted at 10.20/35 percent, easing from 10.25/35 percent. (Colombo/Dec24/2019)

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