Sri Lanka stocks gain on JKH, Dialog, rupee steady

ECONOMYNEXT – Sri Lanka’s rupee opened stable at 175.65/75 rupees against the US dollar in the spot market on Thursday while bond yields were steady and the stocks were 0.78 percent higher, brokers and dealers said.

Sri Lanka’s rupee closed at 175.65/70 rupees against greenback on Wednesday.

In equities, Colombo’s All Share Price Index (ASPI) gained 43.82 points to 5,689.47 and the S&P SL20 Index of more liquid stocks was up 1.64 percent or 44.16 points to 2,738.69 in the first hour of trading.

The stock market has now fully recovered from the fall after the Easter Sunday attack.

The market turnover was 221.1 million rupees with 94 stocks gaining and 18 falling.

John Keells Holdings was trading 3.80 rupees up at 151.90 rupees a share, Dialog Axiata was up 30 cents to 11.0 rupees a share and Hatton National Bank was 4.20 rupees up at 143.50 rupees a share, contributing to the ASPI gain. 

In the bond market, yields remained unchanged in a dull market.

Dealers said 2024 maturities were the most liquid.

A bond maturing on 15.10.2021 remained unchanged on Thursday from Wednesday’s 8.80/88 percent. 

A bond maturing on 15.03.2023 was quoted at 9.45/55 percent, down from 9.47/50 percent.

A bond maturing on 05.06.2024 was quoted at 9.78/80 percent, up from 9.75/78 percent.

A bond maturing on 01.08.2026 was quoted at 9.93/98 percent, up from 9.90/10.00 percent.

A bond maturing on 15.01.2027 was quoted at 10.00/10.05 percent, steady from 10.00/10.07 percent.

A 10-year bond maturing on 01.05.2029 was quoted at 10.05/20 percent, stable from 10.05/15 percent.

(Colombo, 18 July, 2019)