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Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyToday at 6:19 am by The Invisible

» Dividend Announcement
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyYesterday at 1:47 pm by Rana

» JKH - 155/00 Breakout is pending
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyWed Aug 21, 2019 10:19 am by nisashi

» Tokyo as at 21.08.2019 Morning
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» Thread for News on CSE and SL Economy
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» අනං මනං! #/+?.<>
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyTue Aug 20, 2019 8:18 pm by ruwan326

» Browns Investments update
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyTue Aug 20, 2019 1:46 pm by The Invisible

» What Would You Do?
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyMon Aug 19, 2019 1:02 pm by කිත්සිරි ද සිල්වා

» Back of the Legends
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyMon Aug 19, 2019 10:13 am by Topcat

» Thread for News on Local and Foreign Politics
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyMon Aug 19, 2019 6:32 am by ruwan326

» NTB.N0000 (NATIONS TRUST BANK PLC)
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySun Aug 18, 2019 10:33 pm by lanka

» Melstacorp (MELS)
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySun Aug 18, 2019 8:33 pm by The Invisible

» Cargills (CARG)
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» DOCK.N0000 (COLOMBO DOCKYARD PLC)
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» SHL.N0000 (Softlogic Holdings PLC)
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» SAMP.N0000 (SAMPATH BANK PLC)
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» Hayleys MGT
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» CFVF - First Capital
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» JINS.N0000 ( Janashakthi Insurance PLC)
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» Ceylinco Insurance CINS
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» HNB.N0000 ( Hatton National Bank PLC)
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» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
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» Tourism Sector
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» LIOC.N0000 (Lanka IOC PLC)
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» HAYL.N0000 Hayleys PLC
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» PABC.N0000 (Pan Asia Banking Corporation PLC)
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» Grain Elevators
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» Sri Lanka sets US$3.5bn tea export target for 2030
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» Tea: July 2019 national average shows gains month on month
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» OSEA .N
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» Sri Lanka mulls reforms to punish 'errant' plantation companies
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» JKH.N0000
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» HHL.N0000 ( Hemas Holdings PLC)
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» Nestle NEST
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» Ceylon Tobacco CTC
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» Volkswagen කතාවේ ඇත්ත තත්ත්වය මෙහෙමයි.
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Aug 09, 2019 5:37 pm by කිත්සිරි ද සිල්වා

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Aug 09, 2019 5:07 pm by Ethical Trader

» VFIN - where the journey leads it?
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Aug 09, 2019 9:21 am by ruwan326

» UAL.N0000 ( UNION ASSURANCE PLC )
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» SPEN.N0000
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Aug 08, 2019 10:20 pm by The Invisible

» Lanka Tiles
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» Expolanka
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Aug 08, 2019 8:28 pm by ruwan326

» Tile - Snapshot
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Aug 08, 2019 11:37 am by mymoney

» DPL.N0000 (Dankotuwa Porcelain PLC)
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Aug 08, 2019 11:31 am by mymoney

» නිරුවත
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Aug 08, 2019 9:36 am by කිත්සිරි ද සිල්වා

» HAYC - Haycarb
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Aug 08, 2019 7:32 am by Beta

» WATA - Watawala
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» Chemanex
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyWed Aug 07, 2019 6:40 am by The Invisible

» East West properties
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyTue Aug 06, 2019 8:17 am by slstock

» CSE Market Wrap - 02.08.2019
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyTue Aug 06, 2019 6:59 am by pjrngroup

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Sri Lanka rupee sharply down, stocks surge 1.9-pct

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Post by The Invisible on Mon Oct 29, 2018 9:43 pm

ECONOMYNEXT - The rupee closed weaker at around 173.80/174.00 rupees against the US dollar in the spot market Monday amidst a constitutional crisis and gilt yields ended sharply higher and stocks surged 1.92 percent, the highest gain in four years, market participants said.

The rupee traded at an all-time low of 174.30 rupees earlier in the day, market participants said.

The rupee had opened Monday at 174.00/50 rupees in two way quotes against the greenback, weakening from Friday's 173.05/20 rupees closing.

In early trade the rupee appeared to float, but it is not clear whether the rupee floated cleanly. A clean float would restore confidence quickly, and end further sterilization, taking away pressure on the currency.



Colombo's All Share index rose sharp 1.92 percent, up 112.22 points to 5,944.18, and the S&P SL20 of more liquid stocks gained 2.04 percent, up 61.26 points to 3,058.59.

Brokers said turnover was mostly driven by strategic investments in John Keells Holdings and Distilleries, while speculative retail play was also seen lifting the bourse.

Market turnover was 4.16 billion rupees, with 165 stocks making gains against 18 that declined.

John Keells Holdings contributed 2.97 billion rupees to the day's turnover. The stock was up 1.80 rupees to 141.90 rupees. There were six crossings in John Keells Holdings for 2.8 billion rupees with foreigners on the sell side.

Distilleries (up 1 rupees to 18 rupees), Commercial Bank (up 3.70 rupees to 114 rupees) and Hemas Holdings (up 6 rupees to 90 rupees) contributed to the benchmark index's sharp gain.

Access Engineering was up 2 rupees to 15.80 rupees and MTD Walkers ended 1.80 rupees higher at 9.80 rupees.

Net foreign selling was 3 billion rupees, up from 48.3 million rupees the previous day.

Foreign selling in John Keells Holdings was 2.8 billion rupees, followed by 167 million rupees in Hatton National Bank, according to Asia Securities.

Hatton National Bank closed 1.70 rupees higher at 210 rupees.

Off-market negotiated trades, or crossings, amounted to 3.5 billion rupees and was 84 percent of market turnover.

Apart from the six crossings at John Keells Holdings, there were six in Hatton National Bank for 416.6 million rupees and one in Softlogic Holdings for 303 million rupees.

Softlogic Holdings was up 80 cents to 20.40 rupees.

Gilt yields rose sharply in the secondary market as Moody's Investors Service, a rating agency said Sri Lanka's political crisis was credit negative.

A three-year bond maturing in 2021 ended higher at 11.20/30 percent, up from 10.85/95 percent the previous day.

A five-year bond maturing in 2023 closed at 11.40/60 percent, up from the previous close of 11.35/40 percent. (COLOMBO, 29 October 2019)
The Invisible
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Sri Lanka rupee sharply down, stocks surge 1.9-pct Empty Re: Sri Lanka rupee sharply down, stocks surge 1.9-pct

Post by serene on Tue Oct 30, 2018 8:05 am

Thanks Invi.
Better this JKH sell off ends quickly.

serene
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