Sri Lanka stocks gain 0.34-pct, rupee weakens

ECONOMYNEXT – Sri Lanka stocks closed 0.34 percent higher Thursday on foreign buying in Central Finance and Nestle Lanka, and the rupee weakened against the US dollar.

The rupee closes at 154.15/25 against the greenback in the sport market, depreciating from 153.85/154.00 the previous close, driven by bank buying and import demand, dealers said.

The Colombo All Share index closed 22.04 points higher at 6,498.45. The S&P SL20index of more liquid stocks closed 0.11 percent lower, down 4.13 points to 3,743.17.

Carson Cumberbatch (up 14.90 rupees to 196 rupees), Sri Lanka Telecom (up 1.10 rupees to 28.80 rupees) and Central Finance (up 6.90 rupees to 110 rupees) were the main contributors to the benchmark index gain.

Market turnover was 902.7 million rupees, down 2.6percent from the previous close.

Net foreign buying was 243.7 million rupees, up 12-fold from the previous day.

Foreign buying in Central Finance amounted to 135 million rupees and 105 million rupees in Nestle Lanka, Asia Securities said. Nestle Lanka closed unchanged at 1,730 rupees.

Foreign selling amounted to 3.9 million rupees in Teejay Lanka which closed unchanged at 36 rupees.

Off market negotiated trades, or crossings, amounted to 41 percent of market turnover.

Three crossings in Central Finance amounted to 124.2 million rupees. There were two crossings each in Nestle Lanka (142.5 million rupees) and Dialog (48 million rupees), and one crossing each in Ceylon Tobacco (21.8 million) and Chevron Lubricants (33.3 million rupees).

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Dialog closed 20 cents lower at 13.50 rupees. Ceylon Tobacco closed unchanged at 1,080 rupees and Chevron Lubricants closed 4 cents lower at 114.70 rupees. (COLOMBO, February 01, 2018)
 

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