Sri Lanka rupee, stocks stronger at open
ECONOMYNEXT- Sri Lanka’s rupee was quoted stronger at 181.35/45 to the US dollar in the spot market on Thursday, while bond yields opened flat and stocks gained 0.05 percent at open, dealers and brokers said.
The rupee closed at 181.45/50 to the greenback on Wednesday.
In the equities market, Colombo’s All Share Price Index advanced 2.74 points to 5,944.16 and the S&P SL20 Index of most liquid stocks gained 0.43 percent or 12.22 points to 2,861.51, in the first hour into trading.
Market turnover was 70.3 million rupees with 14 stocks gaining and 15 falling.
Commercial Bank of Ceylon Plc was up one rupee or 1.09 percent to 93.00 rupees a share, contributing most to the ASPI’s gain.
Distilleries Company of Sri Lanka Plc opened 90 cents or 5.26 percent up at 18.00 rupees a share while the Sampath Bank Plc stock opened 50 cents or 0.31 percent higher at 161.00 rupees a share, also contributing to ASPI’s increase.
In the secondary bond market, yields were flat in moderate trading, dealers said.
A bond maturing on 15.12.2021 was quoted at 8.60/85 percent on Thursday, declining from 8.65/85 percent at Wednesday’s close.
A bond maturing on 01.09.2023 was quoted at 9.30/32 percent today from its last closing at 9.31/35 percent yesterday.
A bond maturing on 15.09.2024 was quoted at 9.50/53 percent on Thursday, stable from yesterday.
A bond maturing on 15.10.2027 was quoted flat at 9.70/75 percent today.
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A bond maturing on 15.05.2030 was quoted at 9.85/95 percent unchanged Wednesday’s closing.
A bond maturing on 15.09.2034 was also quoted at 9.98/10.08 percent, gaining from 9.92/10.05 from its previous close.
Economic Intelligence Unit of the Ceylon Chamber of Commerce
Jehan Perera - Executive Director National Peace Council