Category: Markets
Sri Lanka Melstacorp share trading commences from tomorrow
Dec 29, 2016 (LBO) – Sri Lanka’s newly formed Melstacorp, the holding company of Distilleries, said its shares will commence trading on the Colombo Stock Exchange from tomorrow. In a stock exchange filing, the company said these shares will be classified under the ‘Diversified Holdings’ sector. A total of 1,165,397,072 ordinary voting shares are to […]
Central Bank invites proposals for USD1bn 3-year foreign financing facility
Dec 28, 2016 (LBO) – Sri Lanka’s Central Bank today said the government intends to raise a Foreign Currency Term Financing Facility (FTFF) denominated in USD up to a limit of 1 billion dollars in 2017. The FTFF is expected to be raised at a fixed rate or a floating rate, linked to the USD […]
Sri Lankan shares rise nearly 0.5 pct in high turnover
Dec 28, 2016 (Reuters) – Sri Lankan shares closed about half a percent higher on Wednesday, recovering from a more than eight-month closing low hit in the previous session, led by blue chips such as John Keells Holdings and Hatton National Bank. Turnover was 1.73 billion rupees ($11.59 million), more than twice the daily average […]
Sri Lanka Central Bank most likely to keep rates steady: POLL
Dec 28, 2016 (Reuters) – Sri Lanka’s central bank is most likely to keep its key interest rates steady on Friday, even as some economists expect further tightening to ease pressure on the rupee following the Fed rate hike earlier in the month, a Reuters polls showed. The central bank has already tightened its monetary […]
Sri Lankan rupee falls on dollar demand; c.bank raises spot reference rate
Dec 28, 2016 (Reuters) – Sri Lankan rupee fell on Wednesday on modest dollar demand after the central bank raised the spot reference rate, while the apex bank’s new limit on one-week forwards capped further loss, dealers said. The market, however, awaited further clues from the central bank after it said on Friday that depreciation […]
Sri Lankan shares hit more than 8-mth closing low; turnover slumps
Dec 27, 2016 (Reuters) – Sri Lankan shares closed at their weakest in more than eight months in typical year-end holiday-thinned trading on Tuesday, with turnover slumping to a near 33-month low as investors stayed away. The Colombo stock index ended 0.22 percent lower at 6,202.83, its lowest close since April 6. It has shed […]
Sri Lankan rupee falls on light dollar demand
Dec 27, 2016 (Reuters) – The Sri Lankan rupee fell on Tuesday on thin importer dollar demand after a long weekend as the market waited for direction from the central bank after it said depreciation of the currency was not necessarily negative for the economy, dealers said. The central bank said on Friday that “it […]
Sri Lankan shares rise after eight sessions of falls in thin trade
Dec 23, 2016 (Reuters) – Sri Lankan shares edged up on Friday, snapping eight straight sessions of falls and moving away from a more than eight-month closing low hit in the previous session, while turnover was low in holiday-thinned trade as investors stayed away from markets ahead of the Christmas weekend. The Colombo stock index […]
Sri Lankan rupee ends firmer on dollar selling by state bank
Dec 23, 2016 (Reuters) – The Sri Lankan rupee closed higher on Friday as dollar selling by a state-run bank helped the local currency gain in lacklustre trading ahead of a long weekend, amid little demand from importers for the U.S. currency, dealers said. Rupee forwards were active, with one-week forwards closing at 149.75/90 per […]
Asia stocks pressured by Wall Street, dollar holds below 14-yr peak
SINGAPORE, Dec 23 (Reuters) – Asian stocks stepped back in subdued trade on Friday as Wall Street took a breather from its relentless rise since the U.S. election, while the dollar hovered below the 14-year high set earlier this week. MSCI’s broadest index of Asia-Pacific shares outside Japan , which touched a five-month low […]
Market Watch: Central Bank tightens stance, sovereign yield rises
Dec 22, 2016 (LBO) – Sri Lanka’s Central Bank effectively tightened its monetary stance on Thursday by conducting a repo auction at 7.47 percent, above the Standing Deposit Facility Rate (SDFR) of 7 percent. The repo auction for around seven billion rupees absorbed excess liquidity in the market, which may signal an upward tick in […]
Sri Lankan rupee falls on importer dollar demand
Dec 22, 2016 (Reuters) – The Sri Lankan rupee fell on Thursday as importer demand for the greenback outpaced inflows from remittances and dollar conversions by exporters, dealers said. Also, weighing on sentiment were dollar purchases by state-controlled banks, they added. The rupee forwards were active, with one-week forwards trading at 150.95/151.00 per dollar, compared […]