Sri Lanka rupee steady, stocks 0.33-pct weaker at open

ECONOMYNEXT – Sri Lanka’s rupee was quoted at 181.55/60 to the US dollar on Wednesday, steady from Tuesday’s close, while bond yields were flat and stocks opened 0.33 percent lower in the first hour of trade, brokers and dealers said.

In equities, Colombo’s All Share Price Index fell 19.88 points to 5,944.37 and the S&P SL20 of more liquid stocks was down 0.16 percent or 4.76 points to 2,946.63, in the first-half hour of trade.

Laughs Power Limited started trading in the stock market today by way of introduction at 8.80 rupees a share, and was trading at 6.20 rupees.

The market turnover was 87 million rupees with 32 stocks gaining and 68 falling.

Nestle Lanka fell 29.00 rupees to 1,301.00 rupees a share, Distilleries Company of Sri Lanka was down 30 cents to 17.30 rupees a share and Ceylon Cold Stores fell 13.90 rupees to 781.00 rupees a share, contributing to ASPI’s fall.

In the secondary market, yields were stable in dull trade ahead of a 16 billion rupee bill auction, dealers said.

A bond maturing on 15.12.2021 was quoted at 8.60/70 percent on Wednesday, unchanged from Tuesday.

A bond maturing 15.07.2023 was quoted at 9.50/60 percent on Wednesday, down from 9.53/60 percent.

A bond maturing on 15.09.2024 was quoted at 9.92/97 percent on Wednesday, easing from 9.93/97 percent.

A bond maturing on 15.10.2027 was quoted flat at 10.22/27 percent.

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A 15-year bond maturing on 15.09.2034 was quoted at 10.50/65, down from 10.60/65 percent. (Colombo/30Oct/2019)

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