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Sri Lanka stocks gain 0.18-pct, rupee weaker

ECONOMYNEXT – Sri Lanka stocks closed 0.18 percent higher Wednesday on gains from Sri Lanka Telecom and banking shares HNB and Sampath, while the rupee weakened/strengthened against the US dollar, brokers and dealers said.

The rupee closed at 155.65/75 rupees to the US dollar, slightly weaker from the previous day’s 155.55/65 close on thin volumes, dealers said.

The Colombo All Share Index gained 11.34 points to 6,451.17 and the S&P SL20 index of more liquid shares closed 0.28 percent higher, up 10.34 points to 3,666.95.

Sri Lanka Telecom (up 1.70 rupees to 28.70), HNB (up 4.50 rupees to 250), Bukit Darah (gaining 14.10 rupees to 220.20) and Sampath Bank (up 3.20 rupees to 305.10) contributed to the benchmark index gain.

Market turnover was 553 million rupees, up 10.8 percent from the previous day.

Net foreign selling was 420.8 million rupees, up from 43.4 million rupees the previous day.

Foreign selling in Softlogic Finance was 314 million rupees. Softlogic Finance closed 20 cents lower at 35.50 rupees.

Off-market negotiated trades, or crossings, totalled 358.2 million rupees and was 65 percent of market turnover.

Two crossings in Softlogic Finance amounted to 334.8 million rupees and one in Lion Brewery was 23.4 million rupees.

Lion Brewery was unchanged at 525 rupees. (COLOMBO, 11 April, 2018)





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