Sri Lanka rupee ends weaker, stocks down 1.24-pct
Nov 07, 2018 17:21 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – The Sri Lanka rupee ended weaker at 174.85/175.00 rupees against the US dollar Wednesday, and stocks fell 1.24 percent lower with the All Share index falling below 6,000 points amidst foreign buying interest, market participant said.
The rupee traded at an intraday low of 174.95 rupees against the greenback in the spot market, market participants said.
The currency closed Monday at 174.45/55 rupees. Markets were closed Tuesday for Deepavali.
Colombo's All Share index ended sharply lower by 1.24 percent, down 74.88 points to 5,987.21, and the S&P SL20 of more liquid stocks fell 2.51 percent, down 79.94 points to 3,110.64.
Market turnover was 1.3 billion rupees with 113 stocks declining during the day agains 25 that gained.
John Keells Holdings (down 5 rupees to 145 rupees), Commercial Bank (down 6.30 rupees to 118.10 rupees) and Hemas Holdings (down 5.40 rupees to 88 rupees) contributed to the benchmark index decline.
Distilleries fell 40 cents to 18 rupees and Dialog ended 20 cents lower at 11.60 rupees.
Foreign buying was 298 million rupees, against selling of 3.1 billion rupees the previous day.
Foreign buying in NDB Bank was 401 million rupees. The stock closed 4.60 rupees lower at 100 rupees.
Crossings, or off-market negotiated trades, amounted to 804.6 million rupees and was 61.4 percent of market turnover.
There were five crossings in NDB Bank for 500 million rupees, three in John Keells Holdings for 166.7 million rupees and two in Teejay Lanka for 67 million rupees.
Hatton National Bank had one crossing for 48.4 million rupees and Sampath Bank had one for 22.5 million rupees. Teejay Lanka closed unchanged at 33.50 rupees.
Hatton National Bank gained 70 cents to 219.70 rupees and Sampath Bank was down 5 rupees to 225 rupees.
A three-year bond maturing in 2021 ended at 11.20/35 percent in two-way quotes, up from 11.00/15 percent the previous close.
A five-year bond maturing in 2023 ended at 11.45/50 percent, up from the previous closing of 11.38/45 percent.