Sri Lanka rupee, stocks open stronger, bond yields down

ECONOMYNEXT – Sri Lanka’s rupee was quoted stronger at 180.80/90 to the US dollar, while gilt yields eased and stocks opened 0.22 percent higher, dealers said.

In the spot market, the rupee closed at 180.90/181.00 to the greenback on Friday.

In equities, Colombo’s All Share Price Index gained 13.53 points to 6,225.50 and the S&P SL20 Index of most liquid stocks fell 0.05 percent or 1.39 points to 3,070.76 in the first hour of trade.

Market turnover was 67 million rupees with 47 stocks gaining and 21 falling.

John Keells Hotels gained 1.60 rupees to 12.50 rupees a share, Aitken Spence Hotels Holdings gained 3.60 rupees to 30.90 rupees a share and Sri Lanka Telecom was up 60 cents to 33.50 rupees, contributing to ASPI’s gain.

In the secondary market, gilt yields eased, dealers said.

A bond maturing on 15.12.2021 was quoted at 8.65/85 percent on Friday, unchanged from 8.65/80 percent at Friday’s close.

A bond maturing on 15.07.2023 was quoted at 9.50/60 percent, stable from 9.50/65 percent on Friday.

A bond maturing on 15.09.2024 was quoted at 9.85/88 percent, down from 9.99/95 percent.

A bond maturing on 15.10.2027 was quoted at 10.00/10.10 percent, down from 10.10/25 percent on Friday.

A bond maturing on 15.09.2034 was quoted at 10.35/55 percent, unchanged from 10.35/55 percent.

(Colombo/Dec02/2019)