Sri Lanka stocks close 1.19-pct up

ECONOMYNEXT – Sri Lanka stocks sharply up 1.19 percent at close on Monday pushed up by Ceylon Tobacco and John Keells Holdings while the rupee was quoted stronger at 185.00/185.15 to the US dollar, dealers and brokers said.

Rupee closed at 185.45/55 against the greenback on Thursday in the spot market.

Sri Lanka’s equity and secondary markets were closed on Friday due to Poya religious holiday.

In the equities market, Colombo’s All Share Price Index (ASPI) climbed 56.86 points to close at 4,837.89.

ASPI opened below the 4,800 psychological marks and continued to edge up to close at the intra-days highest 4,841.85.

S&P SL20 index of more liquid stocks advanced 2.85 percent or 55.77 points to 2,010.34.

Market turnover amounted to 2.0 billion rupees with 117 stocks gaining and 39 making losses.

John Keells holdings contributed 50 percent to the market turnover.

The total foreign net selling in the market until June 4, 2020, amounted to 7.09 billion

A market analyst said Sri Lanka’s stock market followed a global trajectory with emerging markets gaining as the Coronavirus lockdowns ease.

The main contributor to ASPI’s gain, Ceylon Tobacco Company stock traded at 963.70 rupees a share, up 33.70 rupees (3.62 percent) from Thursday’s close.

John Keells stocks closed at 4.70 rupees a share up (4.27 percent) at 114.70 rupees a share while Lion Brewery Ceylon stocks climbed 25.10 rupees a share to close at 525.10 rupees a share, contributing most to ASPI’s gain.

In the secondary government securities market, bond yields up in moderate trade, dealers said.

A bond maturing on 10.08.2021 was quoted  6.90/10 percent on Monday, down from 6.95/05 percent on Thursday’s close.

A new 2-year bond maturing on 15.12.2022 was quoted 7.75/80 percent, up from 7.67/70 percent.

A bond maturing on 15.01.2023 was quoted at 7.80/85 percent, gaining from 7.70/75 percent.

A bond maturing on 15.09.2024 37/42  was quoted at 8.35/37 percent, easing from 8.38/42 percent at the previous day’s end.

A bond maturing on 15.10.2027 was quoted at 8.85/90 percent, stable from 8.85/87 percent previous close.

(Colombo/June08/2020)

Tags :