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Sri Lanka rupee slightly firmer, stocks gain

ECONOMYEXT- Sri Lanka rupee was quoted at 186.50/65, slightly firmer Wednesday while bond yields were flat and stocks gained 0.52 percent, dealers and brokers said.

Sri Lanka rupee ended  186.55/65 to the greenback on Tuesday’s close.

In equities market, stocks gained 0.52 percent higher in the first half-hour of trade, provisional data showed.

Colombo’s All Share Price Index advanced 26.48 points up to 5,109.55 on Wednesday.

The S&P SL20 index of more liquid stocks climbed 0.61 percent or 13.71 points up at 2,271.28.

Market turnover amounted to 461.5 million rupees with 63 stocks making gains and 43 stocks fell.

Index-heavy John Keells Holdings contributed most to the ASPI’s gain trading at 124.80 rupees a share, up by 4.80 rupees.

State telco, Sri Lankan Telecom shares gained 60 cents to trade at 28.00 rupees a share while Asian Hotels & Properties traded 2.00 rupees higher at 31.00 rupees a share, also contributing to the ASPI’s gain.

In the secondary government securities market, bond yields were more or less stable, dealers said.

All maturities starting from 2022 to 2026 were seen highly liquid in the market, dealers said.

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Sri Lanka’s debt office is offering 27 billion rupees up in a weekly auction to be held today.

An offer of bills split into 7.5 billion rupees maturing in 3-months, 3.5 billion rupees maturing in 9-months, and 16 billion rupees maturing in 12-months.

A 2-year bond maturing on 15.12.2022 was quoted at 6.15/20 percent on Wednesday, stable from 6.15/23 percent at Tuesday’s end.

A bond maturing on 15.01.2023 was quoted at 6.20/35 percent,  down from 6.25/33 percent.

A bond maturing on 15.09.2024 was quoted at 6.90 /97 percent, up from 6.88/95 percent at the previous day’s close.

A bond maturing on 01.05.2025 was quoted at 7.07/12 percent on Wednesday, up from 7.05/15 percent at yesterday’s end.

A bond maturing on 01.02.2026 was quoted at 7.17/22 percent, stable from 7.17/25 percent at Tuesday’s end.

A bond maturing on 15.10.2027 was quoted at 7.25/35 percent, down from 7.30/40 percent at the previous day’s close.

(Colombo/June24/2020)

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