Sri Lanka stocks extend losses, rupee weaker

Sept 22, 2011 (LBO) – Sri Lanka stocks closed 0.4 percent lower, while the rupee ended at 110.30/35 to the US dollar after an intervention rate was dropped 10 cents, brokers and dealers said. Dialog Axiata closed flat at 8.50 and Sri Lanka Telecom closed at 48.00

In forex markets the rupee closed at 110.29/30 after an intervention rate was dropped by 10 cents.

In money markets excess liquidity fell to 26.0 billion rupees from 29.4 billion rupees a day earlier and the Central Bank’s Treasuries stock rose to 47.8 billion rupees.

Updated Colombo’s benchmark index fell 30.5 points to 6,762.3 points a day after breaching a psychological 6,800 while its Milanka Index of liquid stocks fell 30.7 points (0.50 percent to 6,107.50.

Turnover was 1.8 billion rupees.

Punters pumped up Regnis (Lanka), a refrigerator maker 45.50 rupees to 278.00 rupees. Radiant Gems, an illiquid firm that reported losses in the June quarter was pumped up 18.90 rupees to 183.60 rupees.

Sathosa Motors fell 32.60 rupees to 399.40 rupees, Singalanka Standard Chemicals fell 60.90 to 265.10 rupees