Sri Lanka stocks down 0.12-pct, rupee gains
Friday March 23, 2018 17:15
ECONOMYNEXT – Sri Lanka stocks fell 0.12 percent on Friday on selling in Lion Brewery, Softlogic Holdings and Nestle Lanka, while the rupee gained slightly against the US dollar on thin volumes, brokers and dealers said.
The US dollar closed at 156.05/15 rupees Friday, with the rupee gaining on thin volumes against the greenback from the previous day’s close of 156.12/20, dealers said.
The Colombo All Share index fell 7.76 points to 6,443.75. The S&P SL20 index of more liquid stocks closed flat, down 0.50 points to 3,624.49.
Lion Brewery (down 19.50 rupees to 525), Softlogic Holdings (down 1.20 rupees to 23), BRAC Lanka Finance (down 3.80 rupees to 31) and Nestle Lanka (down 16.40 rupees to 1,683.50) weighed down the benchmark index.
Market turnover was 953.9 million rupees, down 31 percent from the previous day.
Net foreign selling was 58.4 million rupees, up from selling of 24.9 million rupees the previous day.
Foreign selling in Sampath Bank (up 2.40 rupees to 294.60) was 55 million rupees, according to Asia Securities.
Off-market negotiated trades, or crossings, totaled 739 million rupees and was 78 percent of market turnover.
Three crossings in Sanasa Development Bank (up 20 cents to 109 rupees) amounted to 682.4 million rupees and two in Sampath Bank totaled 56.7 million rupees. (COLOMBO, March 23, 2018)