Wednesday April 24, 2019

Sri Lanka rupee strengthens, stocks gain 0.13-pct

Jul 20, 2018 17:23 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - The Sri Lanka rupee strengthened against the US dollar on Friday as gilt yields closed higher on profit taking and stocks gained 0.13 percent on low volumes amidst foreign buying in banking stocks, brokers and dealers said.

The rupee closed at 159.90/160.00 rupees against the US dollar in the spot market Friday after export conversions strengthened the currency from an intra-day low of 160.05 rupees against the greenback, dealers said.

The US dollar closed at 159.95/160.05 rupees on Thursday.

Gilt yields increased on profit taking in the secondary market for government bonds, dealers said.

A five-year bond maturing in 2023 closed 10.16/24 percent, up from 10.12/18 percent the previous close.

A ten-year bond maturing in 2028 closed at 10.52/65 percent, up from 10.50/60 percent the previous day.

In equities, the Colombo All Share index closed 0.13 percent higher, up 8.15 points to 6,191.17, and the S&P SL20 of more liquid stocks gained 0.31 percent, up 10.67 points to 3,400.43.

Market turnover was 207.1 million rupees, down from 634.7 million rupees the previous day.

Ceylinco Insurance (up 55.10 rupees to 1,655.10 rupees), Lanka Orix Leasing (up 1.90 rupees to 95 rupees) and Jetwing Symphony (up 1.20 rupees to 12.20 rupees) contributed to the benchmark index gain, with 76 stocks making gains during the day against 44 that declined.

John Keells Holdings closed 1.40 rupees lower at 148.10 rupees.

Net foreign buying was 26.2 million rupees, compared to buying of 73.7 million rupees the previous day.

Foreign buying in Commercial Bank was 22 million rupees, followed by 6 million rupees in Sampath Bank, Asia Securities said.

Commercial Bank closed 40 cents higher at 129 rupees and Sampath Bank gained 80 cents to 302 rupees. (COLOMBO, 20 July 2018)


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