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» Devolution of power, civil wars, altruism, nepotism in animal world
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyToday at 7:30 am by yellow knife

» RCL - Royal Ceramics
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyYesterday at 12:47 pm by seek

» Performance of the Market-Weekly
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySat Oct 12, 2019 4:29 am by ruwan326

» Confidence to boom after election – CBSL Governor
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Oct 11, 2019 4:09 pm by Backstage

» Sri Lanka among top 20 rising stars of world trade
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» CLND Not to miss
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Oct 10, 2019 9:24 am by ruwan326

» Dividend Announcement
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyWed Oct 09, 2019 4:59 pm by Rana

» අපි නොදන්න ගීතයක කතාව
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Oct 04, 2019 11:55 am by nuwanmja

» මූඩීස් ප්‍රකාශය පිළිගන්න බැහැ – මහ බැංකුව කියයි
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyWed Oct 02, 2019 6:46 am by nihal123

» ආර්ථික වර්ධනය 2.7% ට බසී
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyTue Oct 01, 2019 1:29 pm by nihal123

» Ranil agrees to give Sajith candidacy - AdaDetana
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Sep 26, 2019 5:05 pm by mymoney

» Cracks in the Real Estate Sector
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Sep 26, 2019 2:44 pm by chutiputha

» Films - To Watch List
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Sep 20, 2019 8:38 am by Topcat

» ෆිනෑන්ස් බලපත්‍රය අවලංගුයි. අද සිට මුදල් ව්‍යාපාර බැහැ
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Sep 20, 2019 7:53 am by serene

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Sep 19, 2019 4:33 pm by nuwanmja

» Easter Sunday Attack and Sri Lanka
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Sep 19, 2019 12:49 pm by Ethical Trader

» Trading Journal
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» Thought for the day...
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyTue Sep 17, 2019 5:44 pm by sashimaal

» කැසිනෝ ව්‍යාපාරික රවී විජේරත්න, අර්බුදයට පත් MTD Walkers මිල දී ගැනීමට සැරසෙයි
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyMon Sep 09, 2019 7:47 pm by nihal123

» Happy Birthday
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyMon Sep 09, 2019 10:54 am by nuwanmja

»  Rajgama Heroes !
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySat Sep 07, 2019 10:24 am by කිත්සිරි ද සිල්වා

» Yahoo mail
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» Thread for News on International Markets
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Sep 06, 2019 9:50 am by The Invisible

» JINS.N0000 ( Janashakthi Insurance PLC)
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Sep 06, 2019 9:47 am by The Invisible

» Browns Investments update
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Sep 06, 2019 6:00 am by sanjulanka

» Hayleys MGT
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Sep 06, 2019 5:55 am by The Invisible

» SEYB.N0000 ( SEYLAN BANK PLC )
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Sep 05, 2019 8:47 pm by soileconomy

» Tourism Sector
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Sep 05, 2019 6:08 pm by NIRMALSG

» Thread for News on CSE and SL Economy
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyWed Sep 04, 2019 6:35 pm by NIRMALSG

» TJL.N0000 (Textured Jersey Lanka PLC.)
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyTue Sep 03, 2019 6:12 pm by Ethical Trader

» UBC Union Bank of Colombo
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyTue Sep 03, 2019 12:09 pm by The Invisible

» Obituary Notice.
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyMon Sep 02, 2019 10:34 pm by කිත්සිරි ද සිල්වා

» Thread for News on Local and Foreign Politics
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySat Aug 31, 2019 5:13 pm by The Invisible

» Sri Lanka bank profitability under pressure: Moody’s
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySat Aug 31, 2019 8:44 am by The Invisible

» ‘වැඩකාරයාගේ නමත් සිරිසේන’ කියලා හිනාවුණා
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Aug 30, 2019 4:05 pm by sanjulanka

» 8000 Post Club | Celebration of a Great Milestone කිත්සිරි ද සිල්වා
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Aug 29, 2019 7:17 pm by කිත්සිරි ද සිල්වා

» In the Meantime, Within Our Shores !
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyThu Aug 29, 2019 10:37 am by කිත්සිරි ද සිල්වා

» Sri Lanka to call for bids to develop Mannar Basin natural gas find
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyTue Aug 27, 2019 4:32 pm by nuwanmja

» “බිරිඳගේ සහ පෙම්වතියගේ වෙනස මොකක්ද?”
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySun Aug 25, 2019 11:51 pm by sanjulanka

» The Central Bank of Sri Lanka Reduces its Policy Interest Rates
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySat Aug 24, 2019 4:26 am by Ethical Trader

» JKH - 155/00 Breakout is pending
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyFri Aug 23, 2019 2:21 pm by pjrngroup

» Tokyo as at 21.08.2019 Morning
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyWed Aug 21, 2019 10:07 am by nisashi

» අනං මනං! #/+?.<>
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptyTue Aug 20, 2019 8:18 pm by ruwan326

» 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

» 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)
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySun Aug 18, 2019 8:26 pm by The Invisible

» SHL.N0000 (Softlogic Holdings PLC)
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySun Aug 18, 2019 8:14 pm by The Invisible

» SAMP.N0000 (SAMPATH BANK PLC)
Sri Lanka rupee sharply down, stocks surge 1.9-pct EmptySat Aug 17, 2019 12:44 pm by nuwanmja

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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)
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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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