Sri Lanka rupee stronger, stocks steady in early trading

ECONOMYNEXT – The Sri Lanka rupee was stronger at 176.50/70 rupees to the US dollar in early spot market trading Wednesday, while bond yields eased and stocks gained 0.03 percent from buying interest in Commercial Leasing and Finance, Sri Lanka Telecom and Asian Hotels and Properties, market participants said.

The rupee had closed 176.85/00 to the US dollar in the spot market on Tuesday.

Secondary market was dull ahead of a treasury bills auction, dealers said.

A bond maturing in 2021 opened stable at 9.95/02 percent from the previous close.

A bond maturing in 2022 opened 10.12/18 percent steady from Tuesday’s close and a 2023 bond opened higher at 10.40/48 percent, up 10.38/46 percent from previous close.

A bond maturing in 2024 opened lower at 10.60/65 percent, down from the previous close of 10.62/66 percent.

A bond maturing in 2026 opened lower at 10.80/85 percent, down from the previous close of 10.80/86 percent.

A bond maturing in 2029 opened higher at 11.00/11.04 percent, up from the previous close of 10.98/11.04 percent.

In equities, Colombo’s All Share was 1.45 points higher, at 5,383.99 in the first hour of trading while S&P SL20 of more liquid stocks gained 0.12 percent, up 3.09 points to 2,568.40.

Market turnover was 22.9 million rupees with 15 stocks gaining and 22 declining.

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Commercial leasing and Finance was up 0.20 cents at 2.40 rupees, Sri Lanka Telecom stocks gained 0.50 cents at 22.30 rupees and Asian Hotels and Properties was up 1.30 rupees to 36.00 rupees. (COLOMBO, 8 May 2019-SB)

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