Sri Lanka rupee steady at open, stocks gain

ECONOMYNEXT- Sri Lanka’s rupee was quoted steady at 181.30/35 to the US dollar in the spot market on Monday, while bond yields remained stable and stocks gain 0.12 percent, dealers and brokers said.

In the equities market, Colombo’s All Share Price Index advanced 6.93 points to 5,994.64 and the S&P SL20 Index of most liquid stocks gained 0.73 percent or 20.76 points to 2,851.52, in the first half-hour into trading.

Market turnover was 178 million rupees with 11 stocks gaining and 10 falling.

John Keells Holdings was up 3.00 rupees to 165.80 rupees a share, contributing most to the ASPI’s gain.

LOLC Holdings gained 2.30 rupees to 168.10 rupees a share and Hatton National Bank gained 2.00 rupees to 162.00 rupees a share, also contributing to ASPI’s gain.

In the secondary bond market, yields were unchanged in moderate trading with the 15.07.2023 and 15.09.2024 bonds easing at the opening, dealers said.

Sri Lanka’s debt office is offering 30 billion rupees in treasury bonds to be sold today, split into 15 billion rupees at 9 percent maturing in 01.09.2023 and 15 billion at 11 percent maturing in 15.05.2030.

It is also offering Sri Lanka Development Bonds (Treasury bonds denominated in US dollar) up to 100 million US dollars of one year and seven months, two years, three years and five years in auction.

A bond maturing on 15.12.2021 was quoted at 8.60/85 percent on Monday, falling from 8.70/85 percent on Thursday’s close.

A bond maturing on 15.07.2023 was quoted at 9.20/25 percent, easing from 9.25/30 percent on Thursday.

A bond maturing on 15.09.2024 was quoted at 9.55/58 percent declining from 9.62/65 percent on Thursday.

A bond maturing on 15.10.2027 was quoted at 9.75/85 percent falling from 9.80/88 percent.

A bond maturing on 15.05.2030 was quoted flat at 10.00/15 percent on Monday from Thursday’s close.

A bond maturing on 15.09.2034 was quoted at 10.00/20 percent, also falling from 10.10/30 percent on the previous closing.

(Colombo/Jan09/2020)

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