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Sri Lanka stocks down 0.13-pct, rupee gains

ECONOMYNEXT – Sri Lanka stocks fell 0.13 Tuesday with foreign buying in Sampath Bank, John Keells Holdings and Richard Pieris reversing outflows of the previous three days, while the rupee gained against the US dollar, brokers and dealers said.

The US dollar closed at 156.00/05 rupees in the spot market. The rupee gained against the greenback on seasonal dollar inflows, dealers said. The US dollar closed Monday at 156.10/15 rupees.

The Colombo All Share index fell 8.17 points to 6,440.43 and the S&P SL20 of more liquid stocks closed flat, down 0.33 points to 3,635.02.

Market turnover was 866 million rupees, down 84 percent from Monday.

Foreign buying was 477.1 million rupees, wiping outflows of 438 million rupees of the past three days including selling of 354.8 million rupees on Monday.

Net buying in Sampath Bank (up 4.80 rupees to 300) was 396 million rupees, followed by 49 million rupees in JKH (down 70 cents to 159 rupees) and 41 million rupees in Richard Pieris (unchanged at 12.60 rupees), Asia Securities said.

Off market negotiated trades, or crossings, accounted for 56 percent of market turnover.

Four crossings in Sampath Bank amounted to 376.3 million rupees, two in Hemas Holdings totalled 85 million rupees, and one in JKH was worth 24 million rupees.

Selling in Ceylon Cold Stores (down 38.80 rupees to 950), Nestle Lanka (down 21.80 rupees to 1,675.30) and JKH contributed to the benchmark index decline. (COLOMBO, 27 March, 2018)





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