Markets
Sri Lanka Rupee Strengthens Against Dollar, Bond Yields Decline Further
Sri Lanka’s rupee strengthened to 292.25/35 against the US dollar on Wednesday, while government bond yields continued to decline. Key bonds, including the 2027 and 2028 issues, saw drops in yields. The Colombo ASPI rose 0.66%, and the S&P SL20 index increased by 1%, with a market turnover of 1.6 billion rupees.
Gold Prices in Sri Lanka Today – November 13, 2024
On November 13, 2024, gold prices in Sri Lanka are: 24 Carat 1 Gram at Rs. 26,960, 22 Carat 1 Gram at Rs. 24,720, and 21 Carat 1 Gram at Rs. 23,590. An ounce of gold is priced at Rs. 764,300, reflecting current market trends for buyers and investors.
CSE Heats Up Ahead of Elections; ASPI Inches Closer to 13,000 Points
The Colombo Stock Exchange saw high activity, with the ASPI briefly hitting 13,000 points and closing at 12,988 (+0.9%) ahead of the General Election. Turnover reached Rs. 4.3 billion, led by the banking sector, while foreign investors were net sellers. Major contributors included JKH, RICH, and DFCC.
Economics
Economic Sentiment Rises as Business Confidence Rebounds – Survey
The latest LMD-PEPPERCUBE Business Confidence Index shows a surge in Sri Lankan corporate optimism post-election, with 41% predicting economic improvement within a year, up from 8% in September. Sales sentiment also rose, with 46% expecting higher sales. The November LMD edition offers further insights from top audit firm leaders.