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Sri Lanka rupee stronger, stocks gain at open

ECONOMYNEXT – Sri Lanka rupee was quoted stronger at 185.95/186.10 to US dollar in the spot market on Friday while bond yields eased and stocks gained at market open, dealers and brokers said.

Sri Lanka rupee ended at 186.30/45 to the greenback on Thursday’s close.

In equities market, stocks gained 0.18 percent on Friday, provisional data showed.

Colombo’s All Share Price Index advanced 9.23 points to 5,154.78.

The S&P SL20 index of more liquid stocks climbed 0.27 percent or 6.16 points up at 2,293.

The market turnover amounted to 147.1 million rupees with 43 stocks making gains while 21 fell.

Teejay Lanka boosted the ASPI, trading at 32.40 rupees, up by 1.30 rupees a share.

Commercial Bank OF Ceylon shares traded 86 cents up at 76 rupees a share while Hemas Holdings gained 1.30 rupees to trade at 62.80 rupees a share, also contributing to the ASPI’s gain.

In the secondary government securities market, bond yields fell marginally in active trade, dealers said.

All maturities starting from 2022 to 2026 were seen highly liquid in the market, dealers said.

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A 2-year bond maturing on 15.12.2022 was quoted at 5.70/80 percent on Friday, plunging from 5.75/83 percent on Thursday’s end.

A bond maturing on 15.01.2023 was quoted at 5.80/85 percent, down from 5.83/93 percent.

A bond maturing on 15.09.2024 was quoted at 6.35/40 percent, slipping from 6.38/45 percent at the previous day’s close.

A bond maturing on 01.05.2025 was quoted at 6.55/60 percent on Friday, down from 6.60/70 percent at yesterday’s end.

A bond maturing on 01.02.2026 was quoted at 6.70/78 percent, unchanged 6.70/85 percent at Thursday’s end.

A bond maturing on 15.10.2027 was quoted at 6.85/95 percent, down from 6.95/7.05 percent at the previous day’s close.

(Colombo/June26/2020)

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