Sri Lanka rupee ends weaker, stocks gain 0.32-pct
Jul 13, 2018 17:11 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - The Sri Lanka rupee closed weaker against the US dollar on Friday as gilt yields eased and stocks gained 0.32 percent, brokers and dealers said.
The rupee weakened against the US dollar to close at 159.60/70 rupees in the spot market on importer demand, dealers said. The US dollar closed at 159.35/50 rupees the previous day.
Gilt yields closed lower in the secondary market for government securities.
A five-year bond maturing in 2023 closed at 10.28/35 percent in two-way quotes, down from 10.35/43 percent the previous day.
A ten-year bond maturing in 2028 eased to 10.45/60 percent, down from 10.63/76 percent a day earlier.
In equities, the Colombo All Share Index closed 0.32 percent higher on Friday, gaining 19.28 points to 6,138.08, and the S&P SL20 of more liquid stocks fell a marginal 0.05 percent, down 1.59 points to 3,334.82.
Market turnover was 626 million rupees, compared to the previous day's turnover of 586 million rupees, with 84 stocks gaining and 48 declining.
Lion Brewery (up 46.40 rupees to 566.50 rupees), BRAC Lanka Finance (up 5.30 rupees to 47.90 rupees) and Browns Capital (up 70 cents to 4.50 rupees) contributed to the benchmark index gain.
Net foreign selling was 4 million rupees, compared to selling of 116.3 million rupees the previous day.
Foreign selling was 24 million rupees in Commercial Bank, according to Asia Securities. Commercial Bank closed 1 rupee lower at 127 rupees.
Off-market negotiated trades, or crossings, totalled 395.12 million rupees amounting to 63 percent of market turnover.
There was one crossing each of 263.6 million rupees in Jetwing Symphony, 44 million rupees in Hunters and Company and 24.2 million rupees in Sampath Bank. Two crossings at John Keells Holdings totalled 63.2 million rupees.
Jetwing Symphony closed unchanged at 12.10 rupees, Hunters was unchanged at 405 rupees and Sampath Bank ended 70 cents lower at 294 rupees. John Keells gained 50 cents to 142 rupees. (COLOMBO, 13 July 2018)