Sri Lanka rupee steady at open, stocks fall

ECONOMYNEXT- Sri Lanka’s rupee was quoted flat at 181.10/25 to the US dollar in the spot market on Monday from Friday, while gilt yields were stable and stocks opened 0.05 percent lower, brokers and dealers said.

On Saturday, the Treasury released the new government’s national policy which ministries and departments have to follow for the next five years.

In equities, Colombo’s All Share Price Index fell 3.04 points to 6,086.63 and the S&P SL20 Index of more liquid stocks gained 0.04 percent or 1.28 points up to 2,959.99, in the first-half hour of trade.

Market turnover was seven million rupees with 13 stocks gaining and 12 falling.

Hemas Holdings was 2.90 rupees down to 77.10 rupees a share, Asian Hotels & Properties was down 1.50 rupees to 39.90 rupees a share and Sampath Bank fell 1.10 rupees to 167.50 rupees a share, contributing to ASPI’s fall.

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

A bond maturing on 15.12.2021 was quoted flat at 9.65/85 percent on Monday.

A bond maturing on 15.07.2023 was quoted at 9.50/60 percent on Monday, stable from Friday’s close.

A bond maturing on 15.09.2024 was quoted at 9.80/90 percent, unchanged from Friday.

A bond maturing on 15.10.2027 was quoted flat at 10.10/18 percent.

An auctioned 10-year bond maturing on 15.05.2030 was quoted at 10.20/30 percent, up from 10.15/35 percent.

A bond maturing on 15.09.2034 was quoted flat at 10.30/45 percent, stable from the previous close. (Colombo/Dec16/2019)