Sri Lanka stocks up, rupee weakens
ECONOMYNEXT – Sri Lanka’s stock market closed higher Wednesday with continued foreign selling in John Keells Holdings (JKH) while there was foreign buying into Hatton National Bank while the rupee ended weaker, brokers and dealers said.
The All Share Price Index ended at 6,050.95, up 3.47 points (0.06 percent) while the more liquid S&P SL20 index closed at 3,128.67, up 0.78 (0.02 percent).
Turnover was boosted to 3.6 billion rupees owing to the sale of a 19 percent stake in Softlogic Life Insurance.
Crossings or negotiated block deals accounted 31 percent of the turnover with seven crossings in John Keells Holdings, two crossings each in Sampath Bank and Commercial Bank and one in Union Bank, said Asia Securities.
Foreign investors were net sellers of 333.5 million worth of shares, with the highest foreign outflow in JKH and HNB accounting for the highest net foreign inflow, Barleet Religare Securities said.
In the foreign exchange market, the rupee ended weaker against the US dollar, falling to 180.50/180.70 from 180.10/180.30 Tuesday, dealers said