Sri Lanka stocks end flat, rupee weakens
ECONOMYNEXT – Sri Lanka stocks closed 0.08 percent higher amidst buying interest in John Keells Holdings, while the rupee slipped to a new low against the US dollar and gilt yields edged higher, market participants said.
Colombo’s All Share index closed 4.52 points higher at 5,770.52, and the S&P SL20 of more liquid stocks ended 0.40 percent higher, up 11.56 points to 2,932.23.
Market turnover was 200.98 million rupees amidst thin trading volumes with 46 stocks gaining during the day against 54 that declined.
John Keells Holdings (up 2.50 rupees to 133.30 rupees), LOLC Holdings (up 3.10 rupees to 85.60 rupees) and Sampath Bank (up 4.10 rupees to 224.10 rupees) contributed to the benchmark index gain.
Net foreign selling was 59.3 million rupees, up marginally from selling of 59.2 million rupees the previous day.
Foreign selling in John Keells Holdings was 30 million rupees followed by 29 million rupees in Kahawatte Plantations, according to Asia Securities.
Kahawatte Plantations closed unchanged at 38 rupees.
There was one crossing, or off-market negotiated trade, in John Keells Holdings for 31.3 million rupees.
Meanwhile, the rupee closed weaker at around 172.50/70 rupees against the US dollar in the spot market Tuesday after recovering from an intraday low of 173 rupees, market participants said.
The currency closed Monday at 172.30/60 rupees against the greenback.
Gilt yields edged higher in the secondary market.
A three-year bond maturing in 2021 ended at 10.85/95 percent in two-way quotes, up from the previous closing of 10.70/80 percent.
A five-year bond maturing in 2023 closed at 11.34/42 percent, up from 11.20/28 percent the previous day. (COLOMBO, 23 October 2018)