Sri Lanka rupee quoted weaker, stocks down 3.75-pct
ECONOMYNEXT- Sri Lanka’s rupee quoted weaker at 183.85/184.05 to the US dollar in the spot market on Friday while bond yields climbed and stocks quoted 3.42 percent lower, dealers said.
The rupee ended at 182.90/183.30 to the greenback on Thursday.
Colombo’s main, All Share Price Index fell 179.07 points to 4,838.96 and S&P SL20 Index of more liquid stocks down 5.62 percent or 128.90 points to 2,164.79 within the first hour of trade.
The market turnover was 375.4 million rupees meanwhile 10 stocks gained and 149 fell.
John Keells Holdings stocks down 7.30 rupees at 124.00 rupees a share, LOLC Holdings stocks fell 13.30 rupees to 99.00 rupees a share while Dialog Axiata stocks down 70 cents to 9.50 rupees a share, dragging ASPI down.
Sri Lanka reported its second coronavirus yesterday while globally the infection surged.
In the government securities market, bond yields gained in active trade, dealers said.
Dealers said the market climbed on local selling.
A bond maturing on 15.12.2021 was quoted at 8.85/15 percent on Friday, up from 8.80/9.00 percent at Thursday’s close.
The newly auctioned 2-year bond maturing on 01.10.2022 was quoted 9.35/42 percent, gaining from 9.27/30 percent at the previous day’s close.
A bond maturing on 01.09.2023 was quoted at 9.55/75 percent, gaining from 9.40/65 percent at the previous day’s close.
A bond maturing on 15.09.2024 was quoted at 9.90/10.00 percent on Friday, up from 9.80/85 percent at Thursday’s close.
A bond maturing on 15.10.2027 was quoted at 10.05/10.15 percent, gaining from 10.00/10.05 percent.
A bond maturing on 15.05.2030 was quoted at 10.00/30 percent, up from 9.90/20 percent.
A bond maturing on 15.09.2034 was quoted at 10.00/40 percent, climbing from 9.90/25 percent the previous day’s end.
Kithmina Hewage- Institute of Policy Studies