Sri Lanka stocks close 0.7-pct higher, bond yields edge up

ECONOMYNEXT – Sri Lanka’s bond yields rose on Friday, while stocks gained and the rupee closed firmer at 185.56/62 to US dollar in the spot market close on Friday while bond yields and stocks gained.

The rupee closed at 185.62/70 to the greenback on Thursday.

In equities, Sri Lanka stocks closed 0.71 percent up.

Colombo’s main All Share Price index (ASPI) advanced 36.16 points to 5,124.26.
The S&P SL20 index of more liquid stocks climbed 1.22 percent or 26.25 points to 2,179.65.

Market turnover was 1.39 billion rupees while 96 stocks made gains and 54 stocks fell.

Commercial Bank of Ceylon lifted ASPI up closing 2.60 rupees up at 75.00 a share.

LOLC Holdings shares closed 4.20 rupees up at 133.90 rupees while Dialog Axiata PLC closed up 20 cents at 11.10 rupees.

John Keells Holdings saw crossings of 97 million rupees at 110.00 rupees per share and the stock closed 80 cents up at 110.80.

A Crossing of 74.5 million rupees was seen in Commercial Bank of Ceylon at 74.50 per share.

In the secondary government securities market, gilt yields of several maturities rose, dealers said.

Over the week a bill and bond auction failed to sell the offered amounts due to yield ceiling announced before hand.

A 2-year bond maturing on 15.12.2022 was quoted at 5.73/80 percent on Friday, up from 5.70/76 percent at Thursday’s close.

A bond maturing on 15.01.2023 was quoted at 5.77/85 percent up from 5.72/80 percent at Thursday’s close.

A bond maturing on 15.09.2024 was quoted at 6.22/32 percent up from Thursday’s closing at 6.18/24 percent.

A bond maturing on 01.05.2025 was quoted at 6.52/62 percent on Friday, up from 6.45/50 percent at yesterday’s closing.

A bond maturing on 01.02.2026 was quoted at 6.55/65 percent, up from 6.50/55 from the previous close.

A bond maturing on 15.10.2027 was quoted at 7.02/12 percent, up from 7.02/08 percent from Thursday.

A 10-year bond maturing on 15.05.2030 was quoted at 7.40/45 percent, down from 7.35/25 percent on Thursday.(Colombo/July31/2020)