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Sri Lanka stocks flat, rupee lower

ECONOMYNEXT – Sri Lanka stocks closed 0.03 percent on Monday on low foreign participation while the rupee closed lower against the US dollar, brokers and dealers said.

The rupee closed at 153.75/80 against the greenback on bank buying, depreciating five cents to a US dollar from the previous close, dealers said.

The Colombo All Share index closed 2.09 points lower, down 0.03 percent, to 6,453.95. The S&P SL20 of more liquid stocks closed 0.33 percent lower, down 12.31 points to 3,737.58.

"Turnover was low on thin trading volumes," Asia Securities said.

Market turnover was 337 million rupees, up 28 percent from the previous close.

John Keells Holdings, closing 2.70 rupees lower at 163 rupees, and Cargills, falling six rupees lower to 198 rupees, weighed down the benchmark index.

Sri Lanka Telecom closed 70 cents lower at 27.60 rupees and Dialog was down 10 cents to 13.50 rupees.

Carson Cumberbatch closed 18.80 rupees higher at 199 rupees and Lanka Orix Leasing was down three rupees to 119.90 rupees, weighing positively on the All Share index.

Softlogic Holdings closed one rupee higher at 14.50 rupees and Commercial Bank was down 50 cents to 139.50 rupees.

Foreign participation was low, accounting for less than a tenth of market turnover.

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Net foreign buying was 404 thousand rupees, down from 21 million rupees last Friday.

Foreign buying in First Capital Holdings was Rs5.8 million and selling in JKH amounted to Rs3.2 million.

Off market negotiated trades, or crossings was 83.9 million rupees accounting for nearly 25% of market turnover.

There were two crossings in Softlogic totalling Rs61.6 million and one at O’Nally Holdings for 22.3 million rupees, the share closing 10 cents lower at 48 rupees. (COLOMBO, January 29, 2018)
 

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