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The Invisible
The Invisible
Posts : 3064
Join date : 2016-11-28
Age : 41

Sri Lanka stocks end 0.70-pct lower, rupee lose some gains Empty Sri Lanka stocks end 0.70-pct lower, rupee lose some gains

on Tue Oct 16, 2018 7:33 am
ECONOMYNEXT - Colombo's All Share index closed 0.70 percent lower on Monday falling below 5,800 points on selling interest in banking stocks and John Keells Holdings, while the rupee ended weaker at around 170.60/80 rupees against the US dollar and gilt yields edged lower, market participants said.

The benchmark index fell 40.66 points, down 0.70 percent, to 5,774.37, and the S&P SL20 of more liquid stocks ended 1.27 percent lower, down 37.55 points to 2,909.08.

Market turnover was 1.99 million rupees, up from 408.9 million last Friday, with 93 stocks declining and 31 gaining during the day.

Banking stocks Hatton National Bank (down 7.90 rupees to 200.10 rupees) and Sampath Bank (down 6.10 rupees to 218.90 rupees) contributed to the benchmark All Share index decline.

Commercial Bank was down 1.50 rupees to 110.10 rupees and NDB Bank declined 3.10 rupees to 98.90 rupees.

John Keells Holdings closed 2.10 rupees lower at 126 rupees and Lion Brewery was down 30 rupees to 600 rupees.

Net foreign selling was 1.7 billion rupees, up from selling of 311.5 million rupees the previous day.

Foreign selling in Singer Sri Lanka was 1.1 billion rupees, according to Asia Securities. The stock gained 1.40 rupees to close at 31 rupees.

Crossings, or off-market negotiated trades, amounted to 1.7 billion rupees which accounted for 85.5 percent of market turnover.

There was one crossing in Singer Sri Lanka for 1.67 billion rupees and one in Cargills Ceylon for 29.5 million rupees. Cargills closed 2.10 rupees higher at 200 rupees.

The rupee weakened to close at around 170.60/80 rupees against the US dollar in the spot market Monday on importer demand, market participants said.

The currency had appreciated sharply last Friday, ending at around 169.40/60 against the US dollar after trading at an intraday low of 171.43 rupees.

The rupee's sharp gain on Friday was due to some intervention and market participants selling US dollars.

Gilt yields closed lower in the secondary market.

A three-year bond maturing in 2021 closed at 11.30/45 percent, down from the previous day's closing of 11.45/55 percent.

A five-year bond maturing in 2023 closed at 11.65/69 percent, easing from the 11.68/77 percent closing on Friday. (COLOMBO, 15 October 2018)
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