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Sri Lanka stocks open lower, bond yields down

ECONOMYNET- Sri Lanka stocks opened 0.12 percent lower on Tuesday, while bond yields eased as island wide daytime coronavirus curfew was lifted, brokers and dealers said.

Sri Lanka’s stocks have been making gains in the last weeks since it opened trading as the coronavirus spread settled.

However, market analysts, last week predicted the market to fall on profit taking, ending the rally.

Colombo’s All Share Price Index (ASPI) gained 0.0.18 percent or 8.82 points to 4,808.71.

The S&P SL20 index of more liquid stocks down 0.44 percent or 9.03 points to 2,025.35.

Colombo Stock Exchange will continue operations till 1430hours from May 26 onwards.

Market turnover amounted to 133.27 million rupees with 44 stocks climbing and 43 making losses.

Commercial Bank of Ceylon contributed heavily to ASPI’s fall by 3.20 rupees, currently trading at 64.90 rupees a share.

Overseas Realty (Ceylon) went down by 1.70 rupees to trade at 12.00 rupees a share while LOLC Holdings PLC share fell 2.30 rupees to trade at 112.50 rupees a share.

In the secondary government securities market, bond yields were down, dealers said.

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A bond maturing on 10.08.2021 was quoted at 6.90/10 percent on Tuesday, from 7.00/10 percent at Friday’s close.

A 2-year bond maturing on 01.10.2022 was quoted at 7.55/60 percent, falling from 7.60/65 percent.

A bond maturing on 15.01.2023 was quoted at 7.82/87 percent, easing from 7.88/93 percent at Friday’s close.

A bond maturing on 15.09.2024 was quoted at 8.38/42 percent, down from 8.42/47 percent on Friday.

A bond maturing on 15.10.2027 was quoted at 8.80/83 percent on Tuesday, steady from 8.80/85 percent.

(Colombo/May26/2020)

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