Sri Lanka rupee gains, stocks open higher

ECONOMYNEXT – The Sri Lanka rupee gained marginally against the US dollar in early trading Monday as stocks opened 0.29 percent higher, brokers and dealers said.

The rupee was quoted at 159.00/30 rupees against the US dollar in early trading in the spot market, dealers said.

The US dollar closed Friday at 159.20/35 rupees, gaining from the previous day’s closing of 158.90/159.00.

Sri Lanka stocks opened 0.29 percent higher in early trading Monday.

In equities, the Colombo All Share index was up 18.40 points to 6,127.11, and the S&P SL20 of more liquid stocks gained 0.34 percent, up 11.21 points to 3,334.73.

Market turnover was 4.7 million rupees.

Sampath Bank was trading 1.50 rupees higher at 296.40 rupees and John Keells Holdings gained 1 rupee to 143 rupees.

Sri Lanka Telecom was up 1 rupee to 25.90 rupees and Colombo Trust Finance was 5 rupees lower at 35.20 rupees.

The benchmark All Share index declined 1.39 percent last week, down 85.92 points to 6,108.71 on Friday.

The S&P SL20 index fell 1.93 percent during the week, to close 65.36 points lower at 3,323.52.

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Net foreign selling during the week was 900 million rupees, according to Acuity Stockbrokers Research, compared to selling of 390 million rupees a week earlier. (COLOMBO, 09 July 2018)

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