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Sri Lanka rupee steady, stocks down

ECONOMYNEXT – Sri Lanka stocks fell 2.2 percent after open while rupee was quoted steady at 184.70/80 to the US dollar on and bond yields were marginally up, dealers said as the country battled a new Coronavirus cluster.

The rupee closed at 184.60/184.80 against the greenback on Monday.

Stocks fell 2.2 percent with the Colombo All Share Index falling 123 points and the S&P SL 20 Index of liquid stocks down 1.95 percent in the first 20 minutes of trading.

Sri Lanka is battling a new Coronavirus cluster that was discovered at an apparel factory over the weekend.

The number of Covid 19 positive cases detected at a Brandix plant at Minuwangoda has risen to 321 with 220 new patients added overnight, Army Commander Lt Gen Shavendra Silva has said.

In the secondary securities market, bond yields were marginally high in dull market trade, dealers said.

A 2-year bond maturing on 15.12.2022 was quoted at 5.70/85 per cent on Tuesday, steady from 5.70/85 per cent at Monday’s closing.

A bond maturing on 15.01.2023 was quoted at 5.75/90 per cent, flat from 5.75/95 per cent at the last closing.

A bond maturing on 15.09.2024 was quoted at 6.25/32 per cent, marginally up from 6.22/32 per cent at Monday’s closing.

A bond maturing on 01.05.2025 was quoted at 6.50/65 per cent on Monday, stable from 6.45/60 per cent at Monday’s closing.

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A bond maturing on 01.02.2026 was quoted at 6.82/92 per cent, up from 6.80/88 per cent at previous day’s end.

A bond maturing on 15.08.2027 was quoted unchanged at 7.03/13 per cent on Tuesday.

A bond maturing on 01.07.2028 was quoted at 7.15/35 per cent flat from the previous day’s end.

A 10-year bond maturing on 15.05.2030 was quoted at 7.30/60 per cent, up from 7.15/35 per cent at Monday’s closing. (Colombo/October 06/2020)