Sri Lanka rupee steady at open, stocks slide
ECONOMYNEXT- Sri Lanka’s rupee was quoted steady at 181.50/60 to the US dollar in the spot market on Thursday from Tuesday’s closing, while bond yields opened flat and stocks fell 0.05 percent, dealers and brokers said.
Wednesday was a market holiday in lieu of traditional Tamil festival of Thai Pongal.
In the equities market, Colombo’s All Share Price Index declined 3.17 points to 5,965.46 and the S&P SL20 Index of most liquid stocks gained 0.03 percent or 0.77 points to 2,830.73, in the first hour into trading.
Market turnover was 23.4 million rupees with 15 stocks gaining and 26 falling.
Browns Investments was down 20 cents or 3.64 percent to 5.30 rupees a share, contributing most to the ASPI’s decline.
Ceylinco Insurance fell 46.50 rupees or 2.50 percent to 1,815.00 rupees a share while the Distilleries Company of Sri Lanka stock decresed 20 cents or 1.14 percent to 17.30 rupees a share, also contributing to ASPI’s fall.
In the secondary bond market, yields were flat in dull trading, dealers said.
A bond maturing on 15.12.2021 was quoted at 8.65/85 percent on Thursday, falling from 8.70/85 percent on Tuesday’s close.
A bond maturing on 01.09.2023 was quoted flat at 9.35/40 percent, from Tuesday.
A bond maturing on 15.09.2024 was quoted at 9.55/60 percent unchanged from the last closing.
A bond maturing on 15.10.2027 was quoted at 9.75/80 percent on Thursday gaining from 9.70/76 percent on Tuesday.
A bond maturing on 15.05.2030 was quoted flat at 9.85/95 percent today.
A bond maturing on 15.09.2034 was also quoted stable at 10.00/15 percent from its previous close.
Jehan Perera - Executive Director National Peace Council