ECONOMYNEXT - The Sri Lanka rupee ended weaker at 182.65/70 rupees against the US dollar in the spot market Tuesday while bonds edged higher and the All Share index fell 0.51 percent to below 6,000 points amidst foreign selling in John Keells Holdings, market participants said.
The currency traded at an intraday low of 182.60 rupees against the US dollar Tuesday.
The rupee ended Monday at 182.25/35 rupees against the greenback after gaining from Friday's closing of 182.65/75 rupees, dealers said.
On Tuesday banks borrowed 84.9 billion rupees at 9 percent from the Central Bank's overnight window, down from 97.9 billion rupees on Monday and Friday's 115.03 billion rupees, to meet a liquidity crunch created by the Central Bank's currency defence.
Bond yields in the secondary market edged higher in the longer tenures.
A bond maturing in 2021 closed at 11.30/35 percent in two-way quotes, up from Monday's 11.26/30 percent closing.
A bond maturing in 2026 ended at 11.60/62 percent, unchanged from the previous close.
A bond maturing in 2028 closed higher at 11.75/12.10 percent, up from the previous day's 11.65/70 percent.
In equities, Colombo's All Share index closed 30.63 points lower at 5,992.36 and the S&P SL20 of more liquid stocks ended 0.66 percent lower, down 20.25 points to 3,049.95.
Market turnover was 932.9 million rupees with 74 stocks declining during the day while 44 had gained.
The stocks that made the biggest contribution to the benchmark index decline were Distilleries Company, down 40 cents to 16.50 rupees, Sampath Bank which fell 5 rupees to 220 rupees and John Keells Holdings ending 1 rupee lower at 154 rupees.
Lion Brewery closed 17.30 rupees lower and Melstacorp was down 1 rupee to 46.10 rupees.
Net foreign selling was 124.8 million rupees, down from 205.9 million rupees the previous day.
Net foreign selling in John Keells Holdings was 146.2 million rupees, Asia Securities said.
Crossings, or off-market negotiated trades, amounted to 497.2 million rupees and was 53.3 percent of market turnover.
There was a crossing each in John Keells Holdings for 308 million rupees and Teejay Lanka for 101.4 million rupees.
There were two crossings in Asiri Hospital Holdings for 87.8 million rupees.
Teejay Lanka closed unchanged at 33.60 rupees and Asiri Hospital Holdings was unchanged at 22 rupees. (COLOMBO, 08 January 2019)