LBO Home IndoChina | About Us | To Advertise | Contact Us rss LBO Mobil rss rss rss rss rss
Sri Lanka sells $100mn of 5 year development bonds; rejects all bids at 2 and 3 years | Fitch affirms HSBC Sri Lanka branch at 'AAA(lka)'; outlook stable | Sri Lanka Freedom Party yet to decide a disciplinary action who participated pro-MR rally | Sri Lanka's President appoints a new law commission | Sri Lanka’s NDB-DFCC merger awaiting new regime’s go ahead | Ultra small computer by Intel; first look in Sri Lanka | Sri Lanka's micro-finance sector to access CRIB through a new regulation | Sri Lanka to get Chinese funded hospital for kidney patients; China to support SL on alleged human rights issues | Sri Lanka Siyapatha Finance PLC rated 'A(lka)' with a stable outlook : Rating agency | Sri Lanka’s AMW Capital Leasing and Finance upgraded to 'BBB+(lka)' : Fitch Ratings                                          
Sat, 28 March 2015 07:09:48
Sri Lanka stocks close 0.2-pct lower, rupee stronger
03 Dec, 2012 16:26:58
Dec 03, 2012 (LBO) - Sri Lanka stocks closed 0.2 percent lower Monday amid thin trading, with some large cap stocks losing ground, while the rupee gained against the dollar, brokers and dealers said.
The rupee opened at around 129.80/130.00 against the US dollar in the spot market and closed around 129.30/40 levels, after trading as strong as 129.00/20 levels, dealers said.

The benchmark Colombo All Share Price Index slipped 13 points to close at 5,337.7 points and the S&P SL20 Index closed at 2,931.40 falling 10.62 points or 0.36 percent.

Turnover was 173 million rupees.

Trading in John Keells Holdings brought the biggest turnover for the day at 24.7 million, Pan Asia Bank 20.8 million, 12 million DFCC and 9.3 million and Metropolitan Resource Holdings.

John Keells closed at 297.10 down 1.40 rupees, Cargills closed at 140.00 down 4.00 rupees.

Commercial Leasing and Finance rose 30 cents to close at 3.60 rupees, People's Leasing closed at 12.00 up 50 cents, LOLC closed at 50 rupees up 90 cents and Aitken Spence closed at 118.20 up 60 cents.

Brokers say some stocks are getting fundamentally strong amid falling prices and some earnings growth, but price earnings multiples are weak due to macro issues giving opportunities for long term buyers, unlike buyers exposed to credit.

Foreign investors who sold out at high multiples during a stock and credit market bubble are now coming back.

Update II

Your Comment
Your Name/Handle
Your Email (Your email will not be displayed)
Your Email
Receivers Email
Your Comment
1. Wadda Podda Dec 05
In reality it is more the USD weakening against the Euro and other currencies then the Rupee strengthening.