Thursday August 22, 2019
sub

Sri Lanka stocks close 0.41-pct lower, rupee weakens

Jul 30, 2018 17:14 PM GMT+0530 | 0 Comment(s)

Sri Lanka stocks close 0.41-pct lower, rupee weakens

ECONOMYNEXT - Stocks closed 0.41 percent lower Monday on selling interest in John Keells Holdings and banking stocks like Sampath Bank and DFCC Bank, while the rupee weakened against the US dollar despite some export conversions, brokers and dealers said.

The rupee closed at 159.60/70 rupees against the US dollar in the spot market Monday, weakening on import demand compared to the previous day's close of 159.55/65 rupees.

The rupee reached an intraday low of 159.90 rupees against the greenback, before export conversions clawed back the currency, dealers said.

The US dollar closed at 159.55/65 rupee Thursday. Markets were closed Friday for the Poya holiday.

Gilt yields edged lower on thin volumes in the secondary market for government bonds.

A five-year bond maturing in 2023 closed lower at 10.15/20 percent in two-way quotes, down from 10.18/23 percent the previous day.

A ten-year bond maturing in 2028 closed at 10.45/55 percent, down from 10.50/58 percent the previous close.

In equities, the Colombo All Share index fell 0.41 percent, down 25.04 points to 6,128.95, and the S&P SL20 of more liquid stocks closed 0.66 percent lower, down 22.22 points to 3,338.15.

Market turnover was 169.4 million rupees, down from a turnover of 430.8 million rupees the previous day, with 47 shares making gains against 79 that declined during the day.

John Keells Holdings (down 2.10 rupees to 139.90 rupees), DFCC Bank (down 4.50 rupees to 100.50 rupees), Chevron Lubricants Lanka (down 4.80 rupees to 85.10 rupees) and Sampath Bank (down 3 rupees to 295 rupees) weighed down the benchmark index.

HNB closed 2.90 rupees lower at 227.10 rupees and NDB Bank fell 70 cents to 113.30 rupees.

Commercial Bank closed 90 cents higher at 128 rupees.

Vallibel Finance was up 20 cents to 69 rupees and Teejay Lanka gained 30 cents to 32.50 rupees.

Net foreign buying was 1.4 million rupees, against selling of 169.6 million rupees the previous day.

Foreign selling was 15 million in Sampath Bank and 14 million rupees in Distilleries (down 10 cents to 20.40 rupees), according to Asia Securities.

Foreign buying in John Keells Holdings was 26 million rupees.

There were no crossings, or off-market negotiated trades. (COLOMBO, 30 July 2018)


 

Name *
Email *
Designation
Company
Telephone Number