Sri Lanka stocks down 0.5-pct, rupee slightly weaker

ECONOMYNEXT – Sri Lanka’s stocks closed 0.49 percent lower amid political turmoil, with selling interest seen in LOLC and Dialog, as the rupee ended marginally weaker against the greenback, brokers and dealers said.

The Sri Lanka rupee closed at 174.45/55 against the US dollar on in the spot market slightly down from 174.20/50 levels on Friday, after falling to an intraday low of 174.60, market participants said.

Colombo’s All Share index fell 0.49 percent, to end 30.12 points lower at 6,062.09, and the S&P SL20 index of more liquid stocks closed 0.56 percent lower, down 17.85 points to 3,190.58.

Market turnover was 4.1 billion rupees, as 76 stocks declined during the day against the 49 that gained.

LOLC Holdings (down 4.70 rupees to 95.30 rupees), Dialog (down 20 cents to 11.80 rupees) and Softlogic Holdings (down 1.30 rupees to 20.50 rupees) contributed to the benchmark index decline.

Ceylon Cold Stores was down 14.80 rupees to 730 rupees and Sampath Bank dropped 5 rupees to 230 rupees.

Net foreign selling was 3.2 billion rupees, compared to the net buying of 66.8 million rupees on Friday.

Net foreign selling in John Keells Holdings was 3.2 billion rupees, Asia Securities said.

John Keells closed 1 rupee down at 150 rupees on Monday.

Crossings, or off-market negotiated trades, totalled 207.1 million rupees, and accounted for 5.0 percent of turnover.





There were two crossings in John Keells Holdings for 145.6 million rupees, one in Teejay Lanka for 34 million rupees, and one in Mesltacorp for 27.5 million rupees.

Teejay Lanka closed 80 cents down at 33.50 rupees and Melstacorp was up 50 cents to 54.40 rupees.
Gilt yields remained stable in the secondary market.

A three-year bond maturing in 2021 ended at 11.00/15 percent in two-way quotes, same as Friday’s closing.

A five-year bond maturing in 2023 ended at 11.38/45 percent, compared toFriday’s 11.35/45 percent closing. (COLOMBO, 5 November 2018)

Tags :

Latest Comments

Your email address will not be published. Required fields are marked *