Sri Lanka rupee, stocks stronger at open

ECONOMYNEXT- Sri Lanka’s rupee was quoted stronger at 180.70/81 to the US dollar in the spot market on Friday while gilt yields remained unchanged and stocks opened 0.16 percent higher, brokers and dealers said.

The rupee closed at 180.80/90 to the US dollar in the spot market on Thursday.

In equities, Colombo’s All Share Price Index gained 9.80 points to 6,109.46 and the S&P SL20 Index of more liquid stocks gained 0.40 percent or 11.94 points to 2,967.16, in the first-half hour of trade.

Market turnover was 30 million rupees with 25 stocks gaining and 19 falling.

John Keells Holdings was 3.00 rupees up to 163.50 rupees a share, LOLC Holdings was up 5.30 rupees to 133.00 rupees a share and Commercial Bank of Ceylon gained 1.40 rupees to 97.80 rupees a share, contributing to ASPI’s gain.

In the secondary bond market, yields were unchanged in dull trading, after Thursday’s bond auction, dealers said.

A bond maturing on 15.12.2021 was quoted flat at 9.65/85 percent on Friday.

A bond maturing on 15.07.2023 was quoted at 9.50/60 percent on Friday, stable from Thursday’s close.

A bond maturing on 15.09.2024 was quoted at 9.82/88 percent, down from 9.84/86 percent.

A bond maturing on 15.10.2027 was quoted at 10.10/15 percent, up from 10.05/15 percent.

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A bond maturing on 15.09.2034 was quoted flat at 10.30/45 percent, stable from the previous close. (Colombo/Dec13/2019)

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