Sri Lanka rupee steady at open, gilts flat

ECONOMYNEXT- Sri Lanka’s rupee was quoted steady at 181.30/35 to the US dollar in the spot market on Tuesday from Monday’s closing, while bond yields opened flat and stocks opened 0.10 percent higher, dealers and brokers said.

In the equities market, Colombo’s All Share Price Index advanced 6.18 points to 5,912.38 and the S&P SL20 Index of most liquid stocks gained 0.10 percent or 2.91 points to 2,787.57, in the first 20 minutes into trading.

Market turnover was three million rupees with four stocks gaining and four falling.

Sampath Bank Plc was up 50 cents or 0.33 percent to 153.50 rupees a share, contributing most to the ASPI’s gain.

National Development Bank Plc opened flat at 97.00 rupees a share while the Union Bank of Colombo Plc stock opened 10 cents or 0.83 percent higher at 12.10 rupees a share, also contributing to ASPI’s increase.

In the secondary bond market, yields were flat in dull trading, dealers said.

A bond maturing on 15.12.2021 was quoted at 8.65/80 percent on Tuesday, unchanged from Monday’s close.

A bond maturing on 01.09.2023 was quoted at 9.31/35 percent, declining from its last closing at 9.32/37 percent yesterday.

A bond maturing on 15.09.2024 was quoted at 9.52/57 percent on Tuesday, falling from 9.55/58 pecent.

A bond maturing on 15.10.2027 was quoted at 9.70/80 percent today, sliding from 9.72/78 percent on it’s last closing.

A bond maturing on 15.05.2030 was quoted flat at 9.90/10.00 percent today.

A bond maturing on 15.09.2034 was also quoted stable at 10.00/10 percent from its previous close.

(Colombo/Jan21/2020)