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Sri Lanka rupee quoted weaker, stocks gain at open

ECONOMYNEXT – Sri Lanka rupee was quoted weaker at 186.45/60 to the US dollar on Wednesday while stocks gained in mid-morning trade and bond yields slipped, dealers said.

Rupee closed on Tuesday at 186.00/186.30 against the greenback.

In the equities market, Colombo’s main, All Share Price Index (ASPI) advanced 0.75 percent or 36.71 points to gain 4,952.27 within the first hour into the trade.

S&P SL20 index of most liquid stocks gained 1.60 percent or 33.33 points to 2,112.45.

Market turnover was 902 million rupees with 70 stocks gaining and 35 stocks sliding.

John Keells Holdings stocks contributed most to ASPI’s gain, advancing 1.30 rupees to trade at 118.90 rupees a share.

Cargills Ceylon stocks up 7.10 rupees to trade at 185.20 while Dialog Axiata stocks advanced 20 cents to trade at 10.90 rupees a share.

In the secondary government securities market, yields eased drastically in active market trade, dealers said.

A bond maturing on 01.08.2021 was not quoted at the moment.

A new 2-year bond maturing on 15.12.2022 was quoted at 6.95/7.05 on Wednesday, sliding from 7.50/58 percent at Tuesday’s end.

A bond maturing on 15.01.2023 was quoted at 7.05/7.12 percent, slipping from 7.60/65 percent.

A bond maturing on 15.09.2024 was quoted at 7.65/7.68 percent, easing from 8.15/20 percent at the previous day’s close.

A bond maturing on 15.10.2027 was quoted at 8.15/25 percent, down from 8.70/75 percent at previous day’s close.
(Colombo/June17/2020)

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