Sri Lanka stocks up 0.6-pct, rupee steady

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

July 10, 2013 (LBO) – Sri Lanka’s stocks closed up 0.6 percent Wednesday ending a five day losing streak with large cap stocks making gains, and the rupee slipped marginally lower in the forward market brokers and dealers said. Pan Asia closed at 18.30 rupees down 10 cents, Union Bank of Colombo closed at 16.40 rupees up 10 cents, Hatton National Bank closed at 157.50 rupees down 10 cents and Sampath Bank closed at 194.00 rupees up one rupee.

Chevron Lubricants closed at 301.70 up 1.70 rupees and Distilleries Company closed at 189.00 rupees down 30 cents.

Ceylon Tobacco Company closed at 996.00 rupees up 1.10 rupees.

The benchmark Colombo All Share Index closed 35.89 points higher at 6,016.05 up 0.6 percent and the S&P SL 20 Index closed 17.1 points higher at 3,365.08 up 0.51 percent.

Turnover was 228.1 million rupees down from 254.3 million from a day earlier.

In forex markets there were no two way quotes in the spot market for the US dollar for the third day though some isolated bids were seen at 130.60 dealers said.

In the spot next market, where settlement is made three days ahead the rupee closed at 131.00/131.10 to the US dollars after opening at 131.95.10 levels, dealers said.

In equity markets foreigners brought 43 million rupees worth shares while selling 35 million rupees in a day that 105 stocks advanced and 67 stocks declined.

John Keells Holdings contributed most to the index closing at 245.60 rupees up 3.80 rupees. The firm is soon expected to announce a 640 million US dollar mixed development project.

Sri Lanka Telecom closed at 40.80 up 1.30 rupees and Ceylinco Insurance closed at 1,192.90 up 92.90 rupees, according to provisional data.

Dialog Axiata closed at 8.50 rupees up 20 cents and Nestle closed at 1,950.00 rupees up 29 rupees.

Asiri Hospital Holdings closed at 13.20 rupees down 70 cents, Aitken Spence Hotel Holdings closed at 72.30 down 2 rupees and Dipped Products closed at 112.90 down 11.10 rupees.