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Sri Lanka stocks close lower, bond yields ease

ECONOMYNEXT- Sri Lanka stocks closed 0.41 percent lower while bond yields eased in active trade, dealers and brokers said.

Colombo’s All Share Price Index closed 19.67 points lower at 4,780.22 on Tuesday.

The index reached an intra-day high of 4,824.64 before falling towards mid-day.

The S&P SL20 index of more liquid stocks closed 1.83 percent or 37.18 points down at 1,997.20.

Market turnover for the day was 1.03 billion rupees with 54 stocks gaining and 103 falling.

Commercial Bank stock was down 4.20 rupees at 63.90 rupees per share contributing the most to the ASPI’s decline.

Overseas Realty (Ceylon) share closed 1.70 rupees a share down at 12.00 rupees while Sampath Bank was down 4.70 rupees down 117.20 rupees a share.

In the secondary government securities market, bond yields eased in active trade with high liquidity seen in 2022 maturities, dealers said.

A bond maturing on 10.08.2021 closed at 6.90/7.05 percent on Tuesday, down  from  7.00/10 Friday’s closing.

A 2-year bond maturing on 01.10.2022 was quoted at 7.42/47 percent down from 7.60/65 percent.

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A bond maturing on 15.01.2023 was quoted at 7.78/83 percent Tuesday down from 7.90/92 percent.

A bond maturing on 15.09.2024 was quoted at 8.35/42 percent on Tuesday, down from 8.42/47 percent on Friday.

A bond maturing on 15.10.2027 was quoted at 8.80/85 percent, flat from 8.80/83 percent Friday.

(Colombo/May26/2020)

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