Sri Lanka stocks open 0.69-pct higher, rupee firmer

EONOMYNEXT – Sri Lanka’s stocks opened 0.69 percent higher while rupee opened slightly stronger at 176.15/25 against the US dollar on Monday and bond yields were stable in dull trade, dealers said.

The rupee closed at 176.18/25 against the greenback on Friday.

In equities, Colombo’s All Share Price Index gained 40.26 point to 5,913.46, and the S&P SL20 index of more liquid stocks gained 1.62 percent or 47.53 points to 2,973.01, in the first half hour of trade.

The market turnover was 404 million rupees, with 58 stocks gaining and 30 declining.

Sri Lanka Telecom gained 2.80 rupees to 29.90 rupees a share, Hatton National Bank was 11.10 rupees up at 181.00 rupees a share and Commercial Leasing and Finance was 20 cents uo at 3.00 rupees a share, contributing to the ASPI’s gain.

In the secondary bond market, yields were steady in a dull trading, dealers said.

A bond maturing on 15.10.2021 was quoted at 8.85/95 percent on Monday, marginally up from 8.86/92 percent at Friday.

A bond maturing on 15.03.2023 was quoted at 9.45/53 percent, easing from 9.47/50 percent.

A bond maturing on 05.06.2024 was quoted at 9.78/82 percent, down from 9.80/82 percent.

A bond maturing on 01.08.2026 was quoted at 9.92/98 percent, steady from 9.92/97 percent.

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A bond maturing on 15.01.2027 was quoted flat at 9.95/02 percent.

A 10-year bond maturing on 01.05.2029 was quoted at 10.00/10.06 percent, steady from 10.00/10 percent.(Colombo/Jul29/2019)
 

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