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Sri Lanka stock close marginally lower, rupee stronger

ECONOMYNEXT – Sri Lanka stocks down 0.10 percent at close on Tuesday dragged by Ceylon Cold Stores but index heavy John Keells gained while the rupee closed firmer at 186.85/186.00 to the US dollar in the spot market, dealers and brokers said.

On Monday, the rupee closed at 186.00/186.10 to the US dollar in the spot market.

In the equities market, Colombo’s All Share Price Index (ASPI) fell 4.80 points to 4,790.60.

ASPI opened at 4800 but within minutes in to trade, it nosed dived to 4797 levels continuing to trade below 4800.

The S&P SL20 index of more liquid stocks climbed 0.54 percent or 10.58 points to 1,972.78.

Market analysts said that the market was on a neutral stance recording only 6883 overall trade for the day.

Retail activity centering on banking stocks.

Market turnover amounted to 1 billion rupees with 55 stocks gaining and 82 making losses.

The main contributors to the turnover were Expolanka Holdings and John Keells. Expolanka generated 426 million rupees including crossings and JKH contributed 190 million rupees.

Until June 1, 2020, net foreign selling in the market amounted to 6.79 billion rupees.

Expolanka Holdings stocks advanced 10 cents to trade at 2.60 rupees a share.

JKH stocks climbed 2.80 rupees to trade at 110.00 rupees a share.

Ceylon Cold Stores contributed heavily to ASPI’s fall by 39.80 rupees, to trade at 670.00 rupees a share.

Cargills (Ceylon) stocks down 5.80 rupees to 183.00 rupees a share and Dialog Axiata stocks fell 10 cents to close at 10.30 rupees a share.

In the secondary government securities market, bond yields gained on active trade, dealers said.

A bond maturing on 10.08.2021 Closed at 6.95/20 percent on Tuesday, stable from 6.95/10 percent at Monday’s close.

A 2-year bond maturing on 01.10.2022 closed at 7.67/75 percent, up from 7.35/40 percent.

A bond maturing on 15.01.2023 closed at 7.88/93 percent on Tuesday, climbing from 7.75/80 percent.

A bond maturing on 15.09.2024 closed at 8.45/52 percent, up from 8.40/45 percent on Monday.

A bond maturing on 15.10.2027 closed at 8.88/92 percent, gaining from 8.87/90 percent at Monday’s close.

(Colombo/June02/2020)

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