Sri Lanka stocks close lower, rupee firmer
ECONOMYNEXT- Sri Lanka stocks closed lower on Monday while turnover recovering from a 10-year low recorded amid foreign sales, while the rupee strengthened towards 182.25/35 to the US dollar in the spot market.
On Friday the rupee closed around 182.65/75 to the US dollar. Bonds were flat, dealers said.
The All-Share Price Index closed at 6,022.99 on Monday, down 0.74 percent or 44.67 points from the previous close on Friday.
The more liquid S&P SL20 Index was down 29.8 points or 0.96 percent at 3,075.
There were net foreign sales of 205.9 million rupees.
The daily turnover was 405.1 million rupees, bouncing back from a 68.7 million rupee 10-year low on Friday as stockbrockers returned to work after the holiday season.
Selling of Ceylon Tobacco Company Plc (CTC) and John Keells Holdings Plc (JKH) shares weighed down the market.
CTC shares fell 29.90 rupees or 2.05 percent to 1,430.10 rupees on Monday, while JKH shares fell 1.59 percent, or 2.50 rupees to 155 rupees.
There was a 63.1 million rupee negotiated deal for Hatton National Bank Plc which saw the share fall 1.44 percent, or 3 rupees to 205 rupees.
There was buying interest in Distilleries Company of Sri Lanka Plc, up 2.42 percent, or 40 cents to 16.90 rupees per share.
Speculative buying drove trading of the Hunas Falls Hotel Plc share to gain 23.60 rupees to close at 155.40 rupees, amid the parent Amaya Leisure Plc entering into talks with a third party interested in a takeover. (Colombo/07 January/2019)