Sri Lanka stocks fall 0.10-pct, rupee edges down

ECONOMYNEXT – Sri Lanka closed flat on Thursday with the benchmark index declining 0.10 percent and turnover improving on foreign buying in Sampath Bank and JKH, while the rupee edged lower against the US dollar, brokers and dealers said.

The rupee edged down a marginal 0.03 percent to 153.82/85 rupees against the US dollar in the spot market, dealers said.

The All Share index closed 6.73 points lower at 6,496.23. The S&P SL20 index of more liquid stocks gained a marginal 2.39 points to close 0.06 percent higher at 3,793.96.

“It was a mundane day of trading with foreign activity continuing to drive turnover with interest in counters like Sampath Bank and JKH,” said Sumith Perera, Head of Portfolio at Ceylon Guardian.

Market turnover was 532 million rupees, up 41 percent from the previous close.

JKH (closing 1.50 rupees lower) at 162.50 rupees), SLT (down 70 cents to 28.30 rupees) and LOLC (closing 1.70 rupees lower at 120.40 rupees) weighed down the benchmark index, negating gains from HNB (closing four rupees higher at 257 rupees, Central Finance (up seven rupees to 100 rupees) and Commercial Bank (up 50 cents to 142.20 rupees).

Foreign net buying amounted 24 million rupees, up 23 percent from Tuesday.

Foreign buying was mainly in Sampath Bank and foreign selling in Cargills, according to Asia Securities.
 (COLOMBO, January 11, 2018)

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