Sri Lanka stocks fall 0.38-pct, rupee weakens
ECONOMYNEXT – Sri Lanka stocks fell 0.38 percent Monday with trades in Ceylinco Insurance and John Keells Holdings driving turnover, while the rupee weakened against the US dollar, brokers and dealers said.
The rupee closed at 155.50/60 rupees against the greenback in the spot market, weakening from the previous close on demand for US dollars, dealers said. The US dollar closed at 155.35/45 rupees the previous day.
The Colombo All Share Index fell 24.22 points to 6,431.10, and the S&P SL20 of more liquid stocks closed 0.27 percent lower, down 9.91 points to 3,646.98.
Distilleries (down 1.60 rupees to 19.50 rupees), John Keells Holdings (down 1.10 rupees to 157.90 rupees) and HNB (2.50 rupees to 245.50 rupees) contributed to the benchmark index decline.
Market turnover was 679.7 million rupee with foreign purchases accounting for 77.6 percent. Turnover was 134.6 million rupees the previous day.
Net foreign buying was million 102.3 million rupees. Foreign selling on Friday was 19.1 million rupees.
Foreign buying in Ceylinco Insurance was 112 million rupees, according to Asia Securities.
Off-market negotiated trades, or crossings, totalled 569.6 million rupees and was 84 percent of market turnover.
Four crossings in Ceylinco Insurance non-voting shares amounted to 270 million rupees, one in John Keells Holdings was 237 million rupees and one in Hemas Holdings was 62.5 million rupees.
Ceylinco Insurance closed 20 rupees lower to 980 rupees and Hemas gained 1 rupee to lose at 125 rupees. (COLOMBO, 09 April, 2018)