Sri Lanka stocks, rupee open higher
Friday July 26, 2019 10:51
ECONOMYNEXT – Sri Lanka’s stocks opened 0.72 percent higher while rupee was stronger at 176.05/15 against the US dollar on Friday and bond yields were stable, dealers said.
The rupee closed at 176.17/25 against the greenback on Thursday.
In equities, Colombo’s All Share Price Index (ASPI) gained 41.75 points to 5,836.41, and the S&P SL20 of more liquid stocks were up by 0.54 percent or 15.65 points to 2,896.19, in the first half-hour of trade.
Market turnover was 105.5 million rupees with 59 stocks gaining and 12 falling.
Ceylon Cold Stores which is the retail and soft drink and ice cream manufacturing unit of index-heavy John Keells Holdings (JKH) was trading 100 rupees up at 700.00 rupees a share, contributing most to the ASPI gain.
Sri Lanka Telecom was 1.90 rupees up at 26.20 rupees a share and Hatton National Bank gained 6 rupees to 164.00 rupees a share, also contributing to the ASPI gain.
JKH, which reported that its profits halved in the June quarter with higher finance costs and a badly hit tourism business from the Easter Sunday bombings, was trading 2.30 rupees lower at 148.70 rupees a share.
In the secondary bond market, yields were steady in dull trading, dealers said.
A bond maturing on 15.10.2021 was quoted at 8.85/92 percent on Friday, easing from 8.90/96 percent at Thursday’s close.
A bond maturing on 15.03.2023 was quoted at 9.45/50 percent, down from 9.48/53 percent.
A bond maturing on 05.06.2024 was quoted at 9.80/82 percent, steady from 9.80/84 percent.
A bond maturing on 01.08.2026 was quoted at 9.92/97 percent, up from 9.90/10.00 percent.
A bond maturing on 15.01.2027 was quoted at 9.95/10.00 percent, easing from 9.98/10.02 percent.
A 10-year bond maturing on 01.05.2029 was quoted flat at 10.00/10 percent.
(COLOMBO, 26 July 2019)