Sri Lanka stocks down 0.22-pct, rupee weakens

 ECONOMYNEXT – Sri Lanka stocks closed 0.22 percent lower Wednesday on local selling in Distilleries with foreigners selling Sampath Bank, while the rupee weakened against the US dollar, brokers and dealers said.

The rupee weakened to 155.85/156.00 rupees against the US dollar on importer demand, dealers said. The dollar closed at 155.70/85 rupees the previous day.
The Colombo All Share Index fell 13.92 points to 6,444.41 while the S&P SL20 of more liquid stocks gained 8.38 points, up 0.23 percent to 3,640.19.
Market turnover was 1.2 billion rupees, up from 530.1 million rupees the previous day. 
Selling in Distilleries (down 4.10 rupees to 20.80 rupees) and Ceylon Cold Stores (down 20 rupees to 930 rupees) weighed down the benchmark index.
Foreign selling was 152.9 million rupees, up from 128.2 million rupees on Tuesday. 
Foreign selling in Sampath Bank was 145 million rupees, according to Asia Securities. 
Sampath Bank closed 50 cents lower at 298.10 rupees.
Off-market negotiated trades, or crossings accounted for 69 percent of market turnover.
There were six crossings in Melstacorp (420 million rupees), three crossings each in Access Engineering (81 million rupees) and Sampath Bank (149 million rupees), and one crossing each in Chevron Lubricants (26.2 million rupees) and Hemas Holdings (161 million rupees). 
Melstacorp gained 50 cents to 60 rupees and Access Engineering closed unchanged at 20.50 rupees.
Chevron Lubricants fell 2 rupees to 102.10 rupees and Hemas Holdings was unchanged at 125.90 rupees. (COLOMBO, 04 April, 2018)

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