Sri Lanka stocks gain 0.47-pct, rupee strengthens

ECONOMYNEXT – Sri Lanka closed 0.47 percent Thursday, with foreign buying in Ceylinco Insurance boosting turnover, while the rupee strengthened against the US dollar, brokers and dealers said.

The rupee gained against the US dollar with the greenback closing at 155.42/52 rupees in the spot market on forward selling by banks, dealers said. The US dollar closed Wednesday at 155.85/156.00 rupees.

The Colombo All Share index gained 30.29 points to 6,474.70 while the S&P SL20 of more liquid stocks closed 16.97 points higher, up 0.47 percent to 3,657.16.

Market turnover was 993.5 million rupees, down 18 percent from the previous day. Foreign buying accounted for 83 percent of turnover.

Net foreign buying was 422 million rupees, compared to foreign selling of 152.9 million rupees the previous day.

Foreign buying in Ceylinco Insurance was 419 million rupees, the share closing unchanged at 1,800 rupees.

Distilleries, Dialog, Ceylon Tobacco and LOLC contributed to the benchmark index’s gain.

Distilleries gained 1 rupee to 21.80 rupees and Dialog closed 20 cents higher at 14 rupees.

Ceylon Tobacco gained 8 rupees to 1,050 rupees and LOLC closed at 123.80 rupees, gaining 2.80 rupees.

Three off-market negotiated trades, or crossings, in Dialog amounted to 215.4 million rupees and was 21.7 percent of market turnover. (COLOMBO, 05 April, 2018))





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