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Sri Lanka stocks down 0.17-pct, rupee stronger

ECONOMYNEXT – Sri Lanka stocks down 0.17 percent at close on Wednesday dragged by Sampath Bank while the rupee closed firmer at 185.75/85 to the US dollar in the spot market, dealers and brokers said.

On Tuesday, the rupee closed at 185.80/186.00 to the US dollar in the spot market.

In the equities market, Colombo’s All Share Price Index (ASPI) fell 8.17 points to 4,782.43.

“Bourse ended in the red territory, failing to stay above a short term psychology level of 4,800 despite Supreme Court dismissing the petitions filed challenging the Gazette,” First Capital Research said in its daily market report.

The S&P SL20 index of more liquid stocks down 1.04 percent or 20.44 points to 1,952.34.

Market turnover amounted to 1.3 billion rupees with 54 stocks gaining and 60 making losses.

Net foreign selling in the market amounted to 114.1 million rupees.

The main contributor to ASPI’s fall, Sampath Bank’s stock down 9.60 rupees (8.35 percent) to trade at 105.40 rupees a share.

Other stocks contributing to ASPI’s, Ceylinco Insurance fell 166.60 rupees a share to trade at 1,608.40 rupees a share while Distilleries Company of Sri Lanka stocks down 50 cents to 14.50 rupees a share.

In the secondary government securities market, bond yields eased in active trade after the bond auction, dealers said.

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Sri Lanka’s debt office offered 65 billion rupees in treasury bonds, split into 40 billion rupees in a 15.12.2022 bond and 25 billion rupees in 01.05.2025 maturity.

A bond maturing on 10.08.2021 closed at 6.95/10 percent on Wednesday, stable from 6.95/20 percent at Tuesday’s close.

A new 2-year bond maturing on 15.12.2022 closed 7.75/80 percent. It was auctioned at 7.90 percent.

A bond maturing on 15.01.2023 closed at 7.80/85 percent, down from 7.88/93 percent.

A bond maturing on 15.09.2024 closed at 8.38/42 percent, falling from 8.45/52 percent at the previous day’s end.

A bond maturing on 15.10.2027 closed at 8.85/90 percent, down from 8.88/92 percent at Tuesday’s close.

(Colombo/June03/2020)

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