Sunday August 25, 2019

Sri Lanka rupee gains, stocks end flat

Sep 11, 2018 17:07 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - The Sri Lanka rupee strengthened against the US dollar on Tuesday and stocks ended flat amidst selling interest in companies of the LOLC group, brokers and dealers said.

The rupee closed Tuesday at 162.30/40 rupees against the US dollar in the spot market, up from 162.35/50 rupees the previous day on banks selling the greenback and export conversions, dealer said.

Gilt yields edged higher in the secondary market for government bonds.

A five-year bond maturing in 2023 closed at 10.03/10 percent in two-way quotes, up from the previous day's closing of 9.97/10.03 percent.

A ten-year bond maturing in 2028 closed at 10.35/50 percent, up from the previous closing of 10.27/37 percent.

In equities, Colombo's All Share index edged lower by 0.02 percent, down 1.31 points to 6,095.23, and the S&P SL20 of more liquid stocks gained 0.16 percent, up 4.97 points to 3,202.74.

During the day 69 stocks had declined against 51 that gained on a market turnover of 337.3 million rupees, down from the previous day's turnover of 615.9 million rupees.

LOLC (down 2 rupees to 89 rupees) and other companies of the group Brown and Company (down 2.20 rupees to 53.80 rupees) and LOLC Finance (down 10 cents to 3.80 rupees) weighed down the benchmark index.

Sri Lanka Telecom closed 30 cents lower at 22 rupees.

Crossings, or off-market negotiated trades, amounted to 119.64 million rupees accounting for 35.5 percent of market turnover.

There was a crossing each in HNB for 45.2 million rupees, Commercial Credit and Finance 21.7 million rupees and Central Finance 52.7 million rupees.

HNB closed 3.80 rupees higher at 226 rupees and Commercial Credit and Finance was unchanged at 32.90 rupees.

Central Finance gained 10 cents to 96.80 rupees.

Net foreign buying was 74.7 million rupees, up from selling of 112 million rupees the previous day.

Foreign buying in Central Finance was 79 million rupees, according to Asia Securities.(COLOMBO, 11 September 2018)


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