Sri Lanka rupee closes weaker, stocks down 0.30-pct

ECONOMYNEXT – The Sri Lanka rupee ended weaker at 175.60/80 rupees against the US dollar in the spot market on Thursday, while gilt yields eased and stocks fell 0.30 percent on selling interest in big market capitalisation shares.

The rupee closed at 174.90/10 rupees against the greenback on Wednesday.

Gilt yields were lower.

A bond maturing in 2021 closed higher at 9.82/92 percent, up from the previous close of 9.80/90 percent.

A bond maturing in 2022 ended 9.98/10.05 percent, up from the pervious close of 10.00/10 percent.

A bond maturing in 2023 ends flat at 10.30/40 percent from the previous close.

A bond maturing in 2024 closed steady at 10.50/55 percent from the previous close of 10.50/59 percent.

A bond maturing in 2026 closed higher at 10.73/78 percent, up from 10.72/78 percent previous close.

A bond maturing in 2029 ended lower at 10.90/95 percent, down from 10.91/11.02 percent previous close.

In equities, Colombo’s All Share closed 20.77 points down to 5,352.20, and S&P SL20 of more liquid stocks ended 0.64 percent lower, down 16.34 points to 2,535.82.





Market turnover was 228.7 million rupees, slightly up from previous close of 222 million rupees, with 36 stocks gaining and 70 declining.

Hatton National Bank (down 3.90 rupees to 160.10 rupees), John Keells Holdings (down 1.00 rupee to 137.00 rupees), and Asian Hotels and Properties (down 2.30 rupees to 33.00 rupees) contributed to the benchmark’s decline.

Net foreign buying was 30.8 million rupees, lower from the net foreign buying of 60.2 million rupees on Wednesday.

Foreign buying in Commercial Bank of Ceylon contributed 22.2 million rupees and foreign selling in Chevron Lubricants Lanka was 4.7 million rupees.

A crossing in Sampath Bank PLC of 20.1 million rupees contributed 8.8 percent to the market turnover.
(COLOMBO 9 May 2019-SB)

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