Sri Lanka rupee steady at open, stocks stronger

ECONOMYNEXT – Sri Lanka’s rupee was quoted steady at 181.05/25 to the US dollar on Monday while bond yields were flat and stocks opened 0.14 percent higher, brokers and dealers said.

The rupee closed at 181.05/20 against the greenback on Friday.

In equities, Colombo’s All Share Price Index gained 8.27 points to 6,040.35 and the S&P SL20 index of more liquid stocks was up 0.57 percent or 17.13 points to 3,007.47, in the first half-hour of trade.

Market turnover was 54 million rupees with 26 stocks gaining and 16 falling.

John Keells Holdings opened flat at 157.00 rupees a share, Commercial Bank was up 1.00 rupee to 99.00 rupees a share and National Development Bank gained 3.40 rupees to 110.00 rupees a share, contributing to ASPI’s gain.

JKH’s profits fell in the September quarter due to a hit on its hotels from the Easter Sunday bombings, but the business is recovering, the firm said in its interim financials on Friday.

In the fixed income market, bond yields were flat in dull trade, dealers said.

A bond maturing on 15.12.2021 was quoted flat at 8.65/75 on Monday from Friday’s close.

A bond maturing 15.07.2023 was quoted flat at 9.60/70 percent.

A bond maturing on 15.09.2024 was quoted flat at 10.00/10.05 percent.

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A bond maturing on 15.10.2027 was quoted at 10.27/32 percent unchanged from the previous close.

A 15-year bond maturing on 15.09.2034 was quoted at 10.60/68 percent, stable from Friday. (Colombo/Nov04/2019)

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