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Sri Lanka rupee steady at open, stocks slide

ECONOMYNEXT- Sri Lanka’s rupee was quoted steady at 181.25/40 to the US dollar in the spot market on Wednesday, while bond yields remained stable and stocks fell 0.05 percent on LOLC Holdings, dealers and brokers said.

In the equities market, Colombo’s All Share Price Index fell 2.91 points to 6,023.18 and the S&P SL20 Index of most liquid stocks fell 0.18 percent or 5.17 points to 2,852.82, in the first twenty minutes into trading.

Market turnover was 56 million rupees with eight stocks gaining and 22 falling.

LOLC Holdings stock opened flat at 164.90 rupees a share, contributing most to the ASPI’s fall.

LOLC Holdings stock has been falling continuously for the past week, market data showed.

Access Engineering was down 1.00 rupee to 19.00 rupees a share and Brown & Company fell 2.60 rupees to 77.70 rupees a share, also 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 at 8.70/95 percent on Wednesday, falling from 8.75/95 percent on Tuesday’s close.

A bond maturing on 15.07.2023 was quoted at 9.25/30 percent, falling from 9.30/40 percent at the previous close.

A bond maturing on 15.09.2024 was quoted at 9.65/70 percent declining from 9.67/72 percent on Tuesday.

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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 10.00/25 percent on Wednesday.

A bond maturing on 15.09.2034 was quoted at 10.05/25 percent, easing from 10.10/25 percent.

(Colombo/Jan08/2020)

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