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Sri Lanka rupee quoted weaker, stocks open higher

ECONOMYMEXT- Sri Lanka rupee was quoted weaker at 186.00/10 to the US dollar on Tuesday while stocks gained in mid-morning trade and bond yields remained stable, dealers said.

Rupee closed on Monday at 185.85/186.00 against the greenback.

In the equities market, Colombo’s main, All Share Price Index (ASPI) advanced 0.54 percent or 26.38 points to gain 4,937.21 within the first half-hour into the trade.

S&P SL20 index of most liquid stocks gained 1.52 percent or 31.09 points to 2,078.31.

Market turnover was 165 million rupees with 45 stocks gaining and 17 stocks sliding.

John Keells Holdings stocks contributed most to ASPI’s gain, advancing 3.00 rupees to trade at 116.60 rupees a share.

Sampath Bank gained 3.40 rupees to trade at 114.00 rupees a share while LOLC Finance stocks edged 20 cents to trade at 3.60 rupees a share.

In the secondary government securities market, yields remained steady in active trade, dealers said.

A bond maturing on 01.08.2021 was quoted at 6.90/05 percent on Tuesday, unchanged from Monday’s end.

A new 2-year bond maturing on 15.12.2022 was quoted at 7.50/55 percent, stable from 7.50/57 percent at Monday’s close.

A bond maturing on 15.01.2023 was quoted at 7.58/62 percent, slipping from 7.60/65 percent.

A bond maturing on 15.09.2024 was quoted at 8.12/17 percent, easing from 8.15/20 percent at the previous day’s close.

A bond maturing on 15.10.2027 was quoted at 8.65/72 percent, down from 8.70/75 percent.

(Colombo/June16/2020)

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