ECONOMYNEXT – Sri Lanka stocks were trading 0.06 percent higher midday Wednesday, while the rupee fell to a new low against the US dollar with gilt yields steady on thin volumes.
Colombo’s All Share index was up 0.06 percent, gaining 3.31 points to 5,883.69, and the S&P SL20 of more liquid stocks was trading 0.18 percent higher, up 4.97 points to 3,007.11.
Dialog gained 30 cents to 12.10 rupees and Distilleries was up 20 cents to 17.60 rupees.
Sri Lanka Telecom was trading 40 cents higher at 20.40 rupees and Cargills Ceylon was up 1.90 rupees to 200 rupees.
The rupee continued to weaken against the US dollar on importer demand, market participants said.
The Sri Lanka rupee was trading lower at 171.20/50 rupees against the US dollar in afternoon spot market trading. The currency ended the previous day at 171.00/30 rupees against the greenback.
Gilt yields were steady in the secondary market.
A three-year bond maturing in 2021 saw yields narrow to 10.85/95 percent by midday Wednesday, against the previous close of 10.80/11.00 percent.
A five-year bond maturing in 2023 was trading in a narrow band of 11.18/23 percent, compared to the previous closing of 11.00/15 percent. (COLOMBO, 10 October 2018)