Sri Lanka stocks weighed down by banks, rupee lower
ECONOMYNEXT – Sri Lanka stocks opened lower Thursday with banking stocks weighing down the indices, while the rupee opened wearker from the the last market day, dealers at 172.80/90 said.
The rupee opened Thursday at a new low of around 172.80/90 rupees against the US dollar in the spot market.
The rupee ended Tuesday at around 172.50/70 rupees against the greenback, recovering from an intraday low of 173 rupees, but weaker from Monday’s closing of 172.30/60 rupees, market participants said. Markets were closed Wednesday for Poya.
Colombo’s All Share index was 0.03 percent lower in early trading, down 1.64 points to 5,768.88 and the S&P SL20 of more liquid stocks was 0.27 percent lower, down 8.01 points to 2,924.22.
DFCC Bank was down 1.90 rupees to 87.30 rupees and Nations Trust Bank was trading 2 rupees lower at 85 rupees.
Commercial Bank was down 50 cents at 108 rupees.
Hemas Holdings was down 1 rupee to 84 rupees.
John Keells Holdings was up 1.20 rupees to 134 rupees and Access Engineering gained 60 cents to 14.20 rupees.
Gilt yields edged lower in secondary market trading.
A three-year bond maturing in 2021 opened at 10.80/90 percent in two-way quotes, down from Tuesday’s closing of 10.85/95 percent.
A five-year bond maturing in 2023 was trading at 11.30/35 percent, edging lower from 11.34/42 percent the previous day (COLOMBO, 25 October 2018)