Sri Lanka rupee, stocks weaker at open

ECONOMYNEXT- Sri Lanka’s rupee was quoted marginally weaker at 181.70/75 to the US dollar in the spot market on Wednesday while bond yields remained stable and stocks traded 0.13 percent lower, dealers said.

The rupee ended at 181.65/75 to the greenback on Tuesday.

In equities, Colombo’s All Share Price Index (ASPI) fell 7.59 points to 5,723.34 and S&P SL20 index of more liquid stocks fell 0.38 percent or 10.42 points to 2,720.97, within the first hour of trade.

Market turnover was 62.8 million rupees while 18 stocks gained, and 43 stocks fell.

LOLC Holdings stocks fell 3.30 rupees to 133.10 rupees a share, Distilleries Company of Sri Lanka traded 17.00 rupees a share, down 20 cents and People’s Leasing and Finance stocks 50 cents a share to trade at 15.00 rupees a share, contributing most to ASPI’s fall.

In the government securities market, bond yields were stable in dull trade ahead of today’s bill auction.

Sri Lanka’s debt office is offering 27.00 billion rupees split in to 7.00 billion rupees maturing in 3-months, 7.5 billion rupees maturing in 9-months and 12.5 billion rupees maturing in 12-months, to be auctioned today.

Dealers said that the 2024 maturity remained liquid.

A bond maturing on 15.12.2021 was quoted at 8.95/15 percent on Wednesday from 8.85/05 percent in its previous close.

A bond maturing on 01.09.2023 was quoted flat at 9.40/55 percent from its previous close.

A bond maturing on 15.09.2024 was quoted flat at 9.70/75 percent on Wednesday.

A bond maturing on 15.10.2027 was quoted unchanged at 9.85/10.00 from Tuesday’s close.

A bond maturing on 15.05.2030 was quoted 9.95/10.20 percent flat from yesterday’s close.

A bond maturing on 15.09.2034 was quoted at 9.90/10.20 percent, also unchanged from the last close.

(Colombo/Feb26/2020)