Sri Lanka stocks gain 0.57-pct, rupee steady
ECONOMYNEXT – Sri Lanka stocks gained 0.57 percent on Thursday with foreign buying in Bukit Darah and Carson Cumberbatch driving turnover, while the rupee was steady against the US dollar, brokers and dealers said.
The US dollar closed at 155.55/65 rupees in the spot market, unchanged from the previous day, with foreign investors seen investing in bonds, dealers said.
The Colombo All Share index closed 36.58 points higher at 6,476.78, and the S&P SL20 of more liquid stocks gained 0.29 percent, up 10.58 points to close at 3,650.10.
Market turnover was 3.5 billion rupees, with net foreign buying of 2.7 billion rupees.
Foreign buying in Bukit Darah was 1.7 billion rupees, followed by 816 million rupees in Carson Cumberbatch, 90 million rupees in Sampath Bank and 42 million rupees in Softlogic Holdings.
Bukit Darah closed 3.90 rupees lower at 206.10 rupees and Carson Cumberbatch closed unchanged at 168 rupees.
Sampath gained 4.50 rupees to 49.50 rupees and Softlogic Holdings closed 2.30 rupees higher at 24.60 rupees.
Off-market negotiated trades, or crossings, amounted to 3.2 billion rupees accounting for 91.2 percent of market turnover.
Two crossings each were reported in Bukit Darah (1.7 billion rupees), Carson Cumberbatch (818.8 million rupees) and Hemas Holdings (182.9 million rupees). Hemas Holdings gained 1.90 rupees to 124.90.
There were one crossing each in Nation Lanka Finance (44 million rupees), Millennium Housing Development (268.2 million rupees), Janashakthi Insurance (76.4 million rupees) and Sampath Bank (90 million rupees).
Nation Lanka Finance gained 10 cents to close at 1 rupee and Millennium Housing Development was unchanged at 10.50 rupees. Janashakthi Insurance closed unchanged at 26.80 rupees.
Nestle Lanka (up 73.70 rupees to 1,749 rupees), Softlogic Holdings, and Ceylinco Insurance (up 124.70 rupees to 1,800 rupees) contributed to the benchmark index’s gain. (COLOMBO, 29 March, 2018)