Sri Lankan stocks close down, rupee weakens
Dec 04, 2018 16:35 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lankan stocks closed lower while the rupee ended weaker against the US dollar, falling to 179.00/179.20 in the spot market, brokers and dealers said.
The All Share Price Index ended at 6,011.68, down 13.52 points or 0.2 percent while the more liquid S&P SL20 index closed at 3,179.11, down 21.97 points or 0.7 percent. Turnover was 867 million rupees.
In money markets, call money and repo were quoted at 8.96/8.93 percent.
Brokers Asia Securities said crossings or off-the-floor negotiated deals accounted for 71 percent of the day’s turnover.
There were three deals in Sampath Bank which closed at 239.50 rupees, up 10 cents or 0.04 percent.
There were also two crossings in John Keells Holdings which closed at 160.20 rupees, down 60 cents or 0.4 percent.
One crossing was recorded in Dialog Axiata which ended unchanged at 11.40 rupees.
Foreign investors were net sellers of 354.8 million rupees worth of shares, Asia Securities said.
Estimated net foreign buying was mainly in Vidullanka which closed at 4.70 rupees, down 10 cents or 2.08 percent while net foreign selling was mainly in JKH.
In the bond market, First Capital said the secondary market yield curve remained mostly unchanged.
The overall market saw ultrathin volumes as market participants remained on the side-line ahead of Wednesday’s primary bill auction, the primary dealer said in a report.
Limited activity was seen on mid to long tenure maturities with a mid-tenure bond maturing on 15.07.23 trading at 11.90 percent and long tenure bonds maturing on 01.06.26 and 15.06.27 both at 12.20% levels. (COLOMBO, 04 December 2018)