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The Invisible
The Invisible
Posts : 3078
Join date : 2016-11-28
Age : 41

Sri Lanka stocks end 0.40 percent lower, rupee in sharp rebound Empty Sri Lanka stocks end 0.40 percent lower, rupee in sharp rebound

Sat Oct 13, 2018 8:30 am
ECONOMYNEXT - Sri Lanka stocks closed 0.40 percent lower on selling interest in John Keells Holdings and Distilleries, while the rupee gained sharply to end at 169.40/80 rupees against the US dollar and gilt yields were down, market participants said.

Colombo’s All Share index fell 0.40 percent on Friday, to end 23.45 points lower at 5815.03, and the S&P SL20 index of more liquid stocks closed at 0.65 percent lower, down 19.19 points to 2,946.63.

Market turnover was 408.95 million rupees, as 65 stocks declined during the day, against the 33 that gained.

Turnover was low levels with lacklustre investor participation, brokers said.

John Keells Holdings (down 1.90 rupees to 128.10 rupees), Distilleries (down 40 cents to 17.10 rupees) and Sampath Bank (down 3.80 rupees to 225 rupees) contributed to the benchmark index decline.

LOLC Holdings ended 1.90 rupees lower at 87.60 rupees and Commercial Bank was down 90 cents down to 111.60 rupees.

Net foreign selling was 311.5 million rupees, up from selling of 50.1 million rupees the previous day.

Net foreign selling in HNB was 252 million rupees, followed by Sampath Bank for 41 million rupees, Asia Securities said.

HNB closed at 208 rupees up from one rupee on Friday.

There were three crossings, or off-market negotiated trades, in HNB totalling 200 million rupees, which was 48.9 percent of turnover.

The Sri Lanka rupee strengthened sharply to 169.40/80 rupees against the US dollars in the spot market Friday, up from the previous close of 171.35/45 rupees, on sudden selling interest of the greenback, market participants said.

The currency traded at an intraday low of 171.43 against the US dollar.

Gilt yields were lower in the secondary market.

A three-year bond maturing in 2021 ended at 11.35/50 percent down from 11.40/75 percent the previous day after spiking to 10.80/90 levels in yesterday's morning trading.

A five-year bond maturing in 2023 closed at 11.65/75 percent, down from 11.85/95 percent, after spiking to 12.05 percent in intrad day trade. (COLOMBO, 12 October 2018 - bond yields corrected with final)
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