ECONOMYNEXT – Sri Lanka stocks soared 1.7 percent Monday in the first day of trading while Sri Lanka rupee opened stronger at 179.60/75 after Gotabaya Rajapaksa was elected Sri Lanka’s president extending gains seen in the run up to the election.
The Colombo All Share Index rose 99 points (1.65 percent) to 6,122 points in the first 30 minutes of trading in a broad based rally.
Access Engineering was up 1.70 to 23.30, Colombo Land and Development Company grew 2.70 to 28.70 rupees, Asiri Surgical was up 30 cents to 3.77 percent.
Hatton National Bank was up 2.60 to 185 rupees and Commercial Bank of Ceylon was up 2.0 rupees to 101 rupees.
John Keells Holdings was up 5.70 rupees to 163.90 rupees a share wheres Commercial Bank of Ceylon was up 3.00 rupees to 102.00 rupees a share.
Distilleries Comapany of Sri Lanka gained 50 cents to 18.50 rupees a share.
Commercial Leasing and Finance was up 30 cents to 3.80 rupees a share.
In the spot market, the rupee closed at 180.25/30 to the greenback on Friday.
In the secondary bond market, yields were down after the bond auction, dealers said.
A bond maturing on 15.12.2021 was quoted flat at 8.70/85 percent on Monday, from Friday’s close.
A bond maturing on 15.07.2023 was quoted at 9.60/65 percent, down from 9.67/78 percent on Friday.
A bond maturing on 15.09.2024 was quoted at 9.88/92 percent, falling from 10.05/10.10 percent.
A bond maturing on 15.10.2027 was quoted at 10.18/22 percent down from 10.32/38 percent on Friday’s close. (Colombo/Nov18/2019)