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Sri Lanka stocks open stronger, rupee steady

Sri Lanka stocks open stronger, rupee flat

ECONOMYNEXT – Sri Lanka equities rebounded in early trading Thursday on buying interest in John Keells Holdings and financial stocks, while the rupee opened steady against the US dollar and gilt yields edge up on thin trades, market participants said.

Colombo’s All Share gained 0.33 percent in early trading, up 18.97 points to 5,832.80, and the S&P SL20 of more liquid stocks gained 0.64 percent, up 19.03 points to 2,988.63.

John Keells Holdings was up 1.70 rupees to 134 rupees and Commercial Leasing and Finance was trading 20 cents higher at 2.80 rupees.

Asiri Hospital Holdings was up 1 rupee to 23 rupees and HNB gained 1.30 rupees to 205 rupees.

The Sri Lanka rupee was steady at 169.80/170.00 rupees in two-way quotes during a dull spot market opening Thursday, market participants said.

The rupee closed Wednesday on a broad two-way spot quote of 169.65/95 after reaching an intraday low of 169.80 rupees against the US dollar in actual trades.

Gilt yields edged higher in the secondary market on thin volumes, dealers said.

A three-year bond maturing in 2021 opened at 10.65/75 percent in two-way quotes, up from 10.60/68 percent the previous close.

A five-year bond maturing in 2023 was unchanged from the previous close at 10.90/11.00 percent. (COLOMBO, 04 October 2018)





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