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Sri Lanka rupee steady at open, stocks gain on LOLC Holdings

ECONOMYNEXT- Sri Lanka’s rupee was quoted steady at 181.30/50 to the US dollar in the spot market on Tuesday, while bond yields remained stable and stocks climbed 0.18 percent on LOLC Holdings, dealers and brokers said.

In the equities market, Colombo’s All Share Price Index advanced 10.97 points to 6,080.90 and the S&P SL20 Index of most liquid stocks gained 0.19 percent or 5.55 points to 2,899.34, in the first twenty minutes into trading.

Market turnover was 14 million rupees with eight stocks gaining and four falling.

LOLC Holdings was up 3.00 rupees to 172.00 rupees a share, contributing most to the ASPI’s gain.

The firm has signed two agreements to sell its Cambodian sub-subsidiary PRASAC to Korea’s Kookmin Bank for 603 million US dollars.

You may also read,

Sri Lanka’s LOLC inks deal to sell Cambodian unit to Korea’s Kookmin

Stocks of Brown & Company PLC and LOLC Finance PLC, stakeholders of LOLC Holdings also gained.

Brown & Company gained 5.00 rupees to 87.20 rupees a share and LOLC Finance was up 10 cents to 4.10 rupees a share, also contributing to ASPI’s gain.

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

A bond maturing on 15.12.2021 was quoted flat at 8.65/90 percent on Tuesday, from Monday’s close.

A bond maturing on 15.07.2023 was quoted at 9.15/25 percent, falling from 9.30/40 percent at the previous close.

A bond maturing on 15.09.2024 was quoted at 9.60/65 percent falling from 9.62/67 percent on Monday.

A bond maturing on 15.10.2027 was quoted at 9.80/85 percent unchanged from yesterday.

A bond maturing on 15.05.2030 was quoted flat at 9.95/10.15 percent on Tuesday.

A bond maturing on 15.09.2034 was quoted unchanged at 10.05/25 percent, the previous close.

(Colombo/Jan07/2020)

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