Sri Lanka stocks down 0.95-pct, rupee weaker

ECONOMYNEXT – Sri Lanka’s stock fell 0.95 percent Thursday amid political uncertainty while the rupee also ended lower at around 175.05/20 rupee to the US dollars in the spot market, brokers and dealers said.

The rupee ended around 174.90/175.10 on Wednesday.

The Colombo All Share Index fell 56.6 points to close at 5,930 with the S&P 20 Index down 1.51 percent to close at 3,063.8 points.

Index heavy John Keells Holdings was down 2.50 to 142.50 rupees, Hemas Holdings was down 1 rupee to 87.00, and Melstacorp was down 2.50 rupees to 52.00 rupees.

HNB was down 7.70 to 212 rupees, DFCC Bank was down 2.0 rupees to 90 rupees and Commercial Bank was down 2.20 to 115.90 rupees.

Sri Lanka’s stock market has seen heavy foreign selling amid a political crisis, though stock initially rose with domestic buying with the hope of a quick end.

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