Sri Lanka rupee ends steady, stocks rebound
Nov 09, 2018 17:12 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - The Sri Lanka rupee ended steady against the US dollar on Friday, with gilt yields edging higher and stocks rebounding 0.81 percent on buying interest in John Keells Holdings, Ceylon Tobacco and Sri Lanka Telecom, market participants said.
The rupee closed at around 175.10/25 rupees against the US dollar in the spot market, widening marginally from Thursday's closing of 175.10/20 rupees.
Gilt yields edged higher in early trading in the secondary market.
A three-year bond maturing in 2021 closed at 11.20/45 percent in two-way quotes, slightly broader than the previous day's closing of 11.20/40 percent.
A five-year bond maturing in 2023 edged higher to 11.50/65 percent, up from 11.45/60 percent the previous close.
In equities, Colombo's All Share index gained 0.81 percent up 48.04 points to 5,978.63, and the S&P SL20 of more liquid stocks ended a sharp 0.99 percent higher, up 30.39 points to 3,094.21.
Market turnover was 1.28 billion rupees with 98 stocks gaining during the day against 30 that declined.
John Keells Holdings (up 2.50 rupees to 145 rupees), Ceylon Tobacco (up 16.50 rupees to 1,416.50 rupees) and Sri Lanka Telecom (up 90 cents to 21 rupees) contributed to the benchmark index gain.
Sampath Bank ended 5 rupees higher at 230 rupees and Softlogic Holdings gained 1.10 rupees to 21.10 rupees.
Net foreign selling amounted to 661 million rupees, up from selling of 405.8 million rupees the previous day. Foreign selling in John Keells Holdings was 574 million rupees, according to Asia Securities.
Crossings, or off-market negotiated trades, amounted to 369.9 million rupees and was 29 percent of market turnover.
There were four crossings in Chevron Lubricants for 139.5 million rupees, three in NDB Bank for 120 million rupees and one in John Keells Holdings for 110.4 million rupees.
Chevron Lubricants ended 20 cents higher at 70.10 rupees and NDB Bank was unchanged at 100. (COLOMBO, 9 November 2018)