Sri Lanka rupee, stocks stronger at open

ECONOMYNEXT – Sri Lanka rupee was quoted stronger at 181.30/40 rupees to the US dollar on Wednesday, while gilt yields remained stable and stocks opened 0.15 percent higher, market participants said.

In the spot market, the rupee closed at 181.50/60 rupees to the greenback on Tuesday.

In equities, Colombo’s All Share Price Index gained 9.53 points to 6,224.52 and the S&P SL20 Index of most liquid stocks was up 0.06 percent or 1.96 points to 3,051.44 within the first half-hour of trading.

Market turnover was 91 million rupees with 41 stocks gaining and 21 falling.

Sri Lanka Telecom gained one rupee to 33.30 rupees a share, Dialog Axiata gained 10 cents to 13.40 rupees and Amana Bank gained 20 cents to 2.50 rupees, contributing to ASPI’s gain.

In the secondary market, gilt yields were steady in dull trade, dealers said.

A bond maturing on 15.12.2021 was quoted at 8.65/85 percent on Wednesday, flat from Tuesday’s close.

A bond maturing on 15.07.2023 was quoted at 9.55/65 percent, unchanged from Tuesday.

A bond maturing on 15.09.2024 was quoted at 9.86/90 percent, up from 9.85/90 percent.

A bond maturing on 15.10.2027 was quoted unchanged at 10.00/15 percent.

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A bond maturing on 15.09.2034 was quoted flat at 10.30/50 percent. (Colombo/Dec04/2019)

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