Sri Lanka stocks open higher; rupee weakens
ECONOMYNEXT – Sri Lanka stocks opened 0.14 percent higher on Tuesday while government bond yields picked up marginally as the rupee weakened against the US dollar, brokers and dealers said.
The US dollar was trading at 156.05/20 in the spot market. The rupee weakened from yesterday’s closing of 155.95/156.10 rupees against the US dollar with seasonal inflows tapering down, dealers said.
A five year bond maturing in 2023 saw two-way quotes at 9.97/10.03 percent in early trading, unchanged from the previous day.
A ten year bond maturing on 2028 was quoted at 10.26/33 percent in opening trade, up from 10.25/30 the previous close.
The Colombo All Share Index gained 10.55 points to 6,506.99 in the first few minutes of trading Tuesday.
The S&P SL 20 index of more liquid stocks gained 0.31 percent, up 11.49 points to 3,682.78.
Market turnover was 4.8 million rupees.
Softlogic Holdings was up 1.60 rupees to 24.90 rupees and Nation Lanka Finance was down 10 cents to 90 cents.
Lanka Indian Oil Company was down 30 cents to 34.20 rupees. (COLOMBO, 17 April, 2018)