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Sri Lanka stocks down 0.48-pct, rupee steady

ECONOMYNEXT – Sri Lanka stocks closed 0.48 percent lower on Tuesday on selling in John Keells Holdings, Ceylon Cold Stores and Sri Lanka Telecom, while the rupee was steady, brokers and dealers said.

The US dollar closed at 156.10/15 rupees in the spot market, unchanged from the previous close on a dull market day, dealers said.

The Colombo All Share index closed 31.13 points lower at 6,462.50. The S&P SL20 of more liquid stocks closed 0.76 percent lower, down 28 points to 3,641.46.

John Keells Holdings (down 4.20 rupees to 160.30), Ceylon Cold Stores (down 27.80 rupees to 966.80) and Sri Lanka Telecom (down 60 cents to 26.80 rupees) weighed down the benchmark index.

Market turnover was 286.7 million rupees, down 28 percent from the previous day.

Net foreign selling was 27.8 million rupees, compared to net buying of 58 million rupees on Monday.

Net selling in HNB non-voting shares was 43 million rupees. Net buying in Lanka Milk Foods was 11 million rupees, according to Asia Securities.

HNB non-voting shares gained 70 cents to 188.20 rupees. Lanka Milk Foods closed 15.70 rupees lower to 163.

Two off-market negotiated trades, or crossings, in HNB non-voting shares amounted to 50.3 million rupees, accounting for 17.5 percent of market turnover. (COLOMBO, March 20, 2018)





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