Sri Lanka stocks gain 0.13-pct, rupee weakens
Apr 03, 2018 17:34 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka stocks closed 0.13 percent higher Tuesday on domestic buying in Distilleries, while the rupee weakened against the US dollar, brokers and dealers said.
The rupee weakened against the US dollar to 155.70/85 rupees with importer demand offsetting seasonal inflows, dealers said. The US dollar closed at 155.20/25 rupees on Monday.
The Colombo All Share index gained 8.43 points to 6,458.33 while the S&P SL20 of more liquid stocks closed flat, down 2.22 points to 3,631.81.
Distilleries (up 1.19 rupees to 24.90 rupees), Overseas Realty (up 1 rupee to 17.40 rupees), Asian Hotels and Properties (up 2.80 rupees to 53 rupees) and John Keells Holdings (up 40 cents to 159.70 rupees) contributed to the benchmark index's gain.
Nestle Lanka (down 49 rupees to 1,700 rupees), Softlogic Holdings (down 1.20 rupees to 22.50 rupees) and Ceylon Tobacco (down 4.90 rupees to 1,040.10 rupees) weighed down the index.
Market turnover was 530.1 million rupees, down from 2.3 billion rupees the previous day.
Net foreign selling was 128.2 million rupees, against net buying of 1.6 billion rupees the previous day.
Foreign selling in Hemas Holdings was 61 million rupees, 48 million rupees in Sampath Bank and 40 million rupees in Distilleries.
Hemas Holdings closed unchanged at 123 rupees, and Sampath Bank was down 40 cents to 123 rupees.
Foreign buying in Melstacorp was 10 million rupees. Melstacorp closed 50 cents lower at 59.50 rupees.
Off-market negotiated trades, or crossings, amounted to 318.7 million rupees and was 60 percent of market turnover.
There were two crossings in Sampath Bank (89 million rupees), and one each in Melstacorp (110.5 million rupees), Hemas Holdings (61.5 million rupees), Panasian Power (30.8 million rupees) and Distilleries (27 million rupees).
Panasian Power closed unchanged at 2.80 rupees. (COLOMBO, 03 April, 2018)