Sri Lanka stocks open 0.13-pct higher, rupee weaker

ECONOMYNEXT  – Sri Lanka’s stocks opened 0.13 percent higher while the rupee opened weaker at 175.95/176.05 against the US dollar on Tuesday and gilts edged up, dealers said.

The rupee closed 175.90/176.00 against the greenback on Monday.

In equities, All Share Price Index gained 7.17 points to 5,666.94 and S&P SL20 of more liquid stocks were 0.54 percent or 14.67 percent up at 2,739.43, in the first half-hour of trade.

Market turnover was 25 million rupees with 52 stocks gaining and 13 stocks declining.

Dialog Axiata PLC gained 10 cents at 10.80 rupees a share and Sampath Bank PLC was up 2.00 rupees to 154.90 rupees a share, pushing up the ASPI.

In the bond market, yields gained due to profit taking in an active market, dealers said.

Short tenor maturities like 2021 and 2024 were the most liquid, dealers said.

A bond maturing on 15.10.2021 was quoted at 8.95/9.05 percent on Tuesday, up from 8.85/95 percent on Monday.

A bond maturing on 15.03.2023 was quoted flat at 9.50/55 percent.

A bond maturing on 05.06.2024 was quoted at 9.82/85 percent, gaining from 9.78/82 percent.

A bond maturing on 01.08.2026 was quoted at 9.93/98 percent, edging up from 9.92/96 percent.

A bond maturing on 15.01.2027 was quoted at 10.00/10.05 percent, up from 9.96/10.00 percent.

A 10-year bond maturing on 01.05.2029 was quoted 10.05/15 percent, steady from 10.05/10.12 percent. (COLOMBO, 23 July 2019)