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The Invisible
The Invisible
Posts : 2909
Join date : 2016-11-28
Age : 41

Sri Lanka rupee ends steady, stocks flat Empty Sri Lanka rupee ends steady, stocks flat

on Mon Sep 03, 2018 7:26 am
ECONOMYNEXT – The Sri Lanka rupee closed steady against the US dollar Friday on easing demand for the currency by banks, as stocks ended flat amidst foreign selling in John Keells Holdings, brokers and dealers said.

The rupee closed the week at a narrower range of 161.45/50 rupees against the US dollar in the spot market with foreign selling in government bonds and importer demand seen easing, dealers said.

The rupee closed Thursday at 161.40/50 rupees against the greenback after falling to an intra-day low of 161.50/60, dealers said.

Excess liquidity in recent weeks was fuelling importer demand, dealers said.

Overnight money market rupee liquidity was down by 1.6 billion rupees on Friday to 26.64 billion rupees. Overnight liquidity was 10.29 billion on 25 July.

Gilt-yields closed steady in the secondary market for government bonds.

A five-year bond maturing in 2023 closed at 9.88/95 percent in two-way quotes, down from 9.90/97 percent the previous day. A ten-year bond maturing in 2028 closed 10.20/28 percent, quoted at a narrower range from the previous day's closing of 10.22/28 percent.

In equities, Colombo's All Share continued two days of gains to close 0.06 percent higher, up 3.58 points to 6,080.26, and the S&P SL20 of more liquid stocks fell 0.36 percent, down 11.79 points to 3,229.21.

During the day 77 stocks gained against 64 that declined on a market turnover of 639 million rupees, up from the previous day's turnover of 337.9 million rupees.

BRAC Lanka Finance (up 7.30 rupees to 48.20 rupees), Asian Hotels and Properties (up 3.90 rupees to 40.90 rupees) and Ceylon Tobacco (up 9 rupees to 1,339 rupees) contributed to the benchmark index gain.

Net foreign selling was 99.8 million rupees, compared to selling of 76.9 million rupees the previous day.

Foreign selling in John Keells Holdings was 70 million rupees, according to Asia Securities. John Keells Holdings closed unchanged at 140 rupees.

Crossings, or off market negotiated trades amounted to 366.9 million rupees, accounting for 57.4 percent of market turnover.

There was a crossing each at Bimputh Finance for 94.3 million rupees, John Keells Holdings 56 million rupees, Union Assurance 55 million rupees, Seylan Bank 39.8 million rupees and Sampath Bank 28.1 million rupees.

Three crossings in Commercial Bank totalled 93.6 million rupees.

Bimputh Finance closed 2.70 rupees higher at 30.80 rupees and Union Assurance gained 15.80 rupees to 291.10 rupees.

Seylan Bank closed 40 cents lower at 74.70 rupees and Sampath Bank was 10 cents higher at 279.90 rupees.

Commercial Bank gained 90 cents to close at 125 rupees. (COLOMBO, 31 August 2018)
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