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Sri Lanka stocks fall 0.28-pct, rupee weakens

Mar 15, 2018 17:41 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Sri Lanka stocks fell 0.28 percent on Thursday on foreign selling in HNB and Dialog, and the rupee weakened against the US dollar, brokers and dealers said.

The rupee weakened to 156.00/10 rupees against the US dollar in the spot market, on seasonal import demand, dealers said. The US dollar closed at 159.85/95 rupees the previous day.

The Colombo All Share index fell 18.49 points to 6.500.99. The S&P SL20 index of more liquid stocks closed flat gaining 0.83 points to 3,666.35.

Market turnover was 806.2 million rupees, down 48.5 percent from the previous day.

"Foreign participation was high with foreign investors mainly trading among themselves," said Shiyam Subaulla, Senior Vice President at Asia Securities.

Net foreign selling was 56.6 million rupees, down 70 percent from selling worth 183.3 million rupees on Wednesday.

Net foreign selling in HNB was 99 million rupees and 34 million rupees in Dialog.

HNB closed 30 cents higher at 242.30 and Dialog fell 40 cents to 13.50 rupees.

Foreign buying in JKH was 103 million rupees, according to Asia Securities. JKH gained 50 cents to 163 rupees.

Dialog, Melstacorp (down 2.30 rupees to 60.20) and Carson Cumberbatch (down 12.30 rupees to 166.10 rupees) weighed down the benchmark index.

Off-market negotiated deals, or crossings, amounted to 352.4 million rupees and was 44 percent of market turnover.

There were two crossings each in JKH (159.2 million rupees) and Nestle Lanka (86.5 million rupees) and one crossing in each in banking stocks Commercial (22.7 million rupees) and HNB (84 million rupees).

Nestle Lanka closed unchanged at 1,730 rupees.

Commercial Bank gained 30 cents to 135.30 rupees. (COLOMBO, March 15, 2018)


 

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