Sri Lanka rupee, stocks gain at open

ECONOMYNEXT – Sri Lanka rupee was quoted slightly stronger at 181.30/45 percent to the US dollar in the spot market on Friday while bond yields were stable and stocks opened 0.05 percent higher, dealers and brokers said.

The rupee closed at 181.35/45 to the greenback on Thursday.

In the equities market, Colombo’s All Share Price Index (ASPI) gained 2.82 points to 5,951.17 and the S&P SL20 Index of most liquid stocks up 0.09 percent or 2.57 points to 2,842.13 in the first twenty minutes into trading.

Market turnover was 12.4 million rupees while 12 stocks gained and five fell.

Teejay Lanka stocks traded 90 cents or 2.24 percent up at 41.10 rupees a share contributing most to the ASPI gain.

Teejay Lanka profits grew 31 percent to 718 million rupees in the December 2019 quarter helped by stable cotton prices, company financials showed.

The group reported earnings of 1.02 rupees per share for the quarter.

Meanwhile, Browns Investment gained 10 cents to 5.30 rupees a share and Arpico Insurance advanced 2.30 rupees or 13.14 percent higher at 19.80 rupees a share.

In the secondary government securities market, bond yields were stable in moderate trade, a dealer said.

Dealers said the liquidity centered on the 15.09.2024 bond.

A bond maturing on 15.12.21 was quoted at 8.60/80 percent on Friday, falling from 8.65/85 percent on Thursday’s close.

A bond maturing on 01.09.2023 was quoted at 9.15/25 percent, climbing from 9.10/20 percent in its previous close.

A bond maturing on 15.09.2024 was quoted at 9.42/47 percent on Friday, gaining from 9.40/45 percent on Thursday.

A bond maturing on 15.10.2027 was quoted flat at 9.60/70 percent today.

A bond maturing on 15.05.2030 was quoted at 9.60/80, unchanged from Thursday’s close.

A bond maturing on 15.09.2034 was quoted at 9.60/90 percent on Friday, stable from its last closing.

(Colombo/Feb07/2020)