Sri Lanka stocks down, foreign selling in JKH

ECONOMYNEXT – Sri Lanka’s stock market closed lower Tuesday with continued foreign selling in John Keells Holdings (JKH) boosting turnover, while the rupee weakened.

The All Share Price Index ended at 6,047.48, down 20.15 points or 0.3 percent while the more liquid S&P SL20 index closed at 3,127.89, down 14.02 points (0.5 percent).

Crossings or negotiated block deals accounted for 67 percent of the turnover of 979 million rupees, said Asia Securities.

There were with two crossings in JKH and one in Dialog Axiata.

Foreign investors were net sellers of 784.9 million rupees worth of shares.

Estimated net foreign buying was highest in HNB while net foreign selling was highest in JKH.

JKH closed at 160 rupees, down 90 cents (0.6 percent) while HNB ended at 210 rupees, down 2.10 rupees or almost one percent.

SMB Leasing was the biggest loser of the day, slumping 17 percents (10 cents) to 50 cents in thin trade.

In the foreign exchange market, the rupee ended weaker against the US dollar, falling to 180.10/180.30 from 179.90/180.00, dealers said.

(Colombo/December 18/2018)
 

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