Category: Economy and Markets
Sri Lanka shares end marginally higher
Feb 17, 2012 (LBO) – Sri Lankan shares ended slightly higher Friday after a roller-coaster ride with heavy trading again in stocks favoured by speculators while there was also some buying into banks, brokers said. The main All Share Price Index closed up 0.12 percent (6.08 points) at 5,285.17, for the third day, after a […]
Sri Lanka rupee stronger after opening
Feb 17, 2012 (LBO) – Sri Lanka’s rupee was quoted around 118.30/50 against the US dollar in mid morning trade, up from opening and stocks rose nearly 2.0 percent before easing back, dealers and brokers said. . The rupee opened around 118.80/119.20 and strengthened against the US dollar as the currency moved to consolidate towards […]
Sri Lanka shares end up five percent
Feb 16, 2012 (LBO) – Sri Lankan shares ended firmer for the second day Thursday, after a nine-day slide, with the main index shooting up five percent with steep gains in illiquid stocks, brokers said. The main All Share Price Index closed up 5.08 percent (255.15 points) at 5,278.95, while the more liquid Milanka index […]
Sri Lanka rupee steady after opening
Feb 16, 2012 (LBO) – The Sri Lanka rupee opened around 119. 40/65 against the US dollar and later strengthened as much as 118. 70/119.00 after briefly dipping in early trade, dealers said. Though there is a six monthly power tarrif adjustment process through a regulator, the process had been undermined twice over the last […]
Sri Lanka rupee closes stronger
Feb 16, 2012 (LBO) – Sri Lanka’s rupee closed at 119. 0/15 against the greenback Thursday up from yesterday’s close of 119. 40/55 in day of active trade, after opening at 119. 40/65 dealers said. The currency fell as low as 120.00 to the greenback in intra-day trading triggering a sell-off. Some banks also appeared […]
Sri Lanka Treasuries yields up; rupee steadier
Feb 14, 2012 (LBO) – Sri Lanka’s Treasuries yields rose edged up 07 to 18 basis points at Wednesday’s auction and the rupee recovered from record lows in the spot dollar market helped by forex sales by state banks. The debt office, which is a unit of the Central Bank said 3-month yields rose 07 […]
Sri Lanka shares end up 0.3-pct
Feb 15, 2012 (LBO) – Sri Lankan shares ended firmer Wednesday after a nine-day slide, brokers said. Environmental Resources Investments was the most actively traded stock, closing at 15.40 rupees, up 30 cents. HVA Foods was also actively traded, closing at 17.70 rupees, up 80 cents. Panasian Power ended at 2.70, up 20 cents. The […]
Sri Lanka rupee drifts lower
Feb 15, 2012 (LBO) – Sri Lanka rupee opened weaker at 120.30/35 against the greenback in the spot dollar market and drifted lower as the foreign exchange market continued to look for direction but stocks opened stronger. Colombo All Share Index rose 1.6 percent in the first half hour of trading. In forex markets trades […]
Sri Lanka rupee depreciation temporary: Central Bank
Feb 15, 2012 (LBO) – A sharp depreciation of the rupee following a float of the currency was temporary and an overshooting which will correct as policy actions take effect, the Central Bank said. ‘[T]he recent depreciation of the Sri Lanka Rupee, which seems to be a reaction of forex dealers adjusting to the more […]
Sri Lanka rupee opens weaker, bonds yields higher
Feb 14, 2012 (LBO) – Sri Lanka rupee opened weaker around 117.50/80 in the spot market against the US dollar and drifted lower Tuesday dealers said, as the state took corrective measures to cut further borrowings by state energy utilities. The rupee was weakened to around 118. 50/80 to the US dollar in the third […]
Sri Lanka shares end down 3.4-pct
Feb 14, 2012 (LBO) – Sri Lankan shares plunged again Tuesday with the main All Share Price Index crashing below 5,000 points in a widespread sell-off before recovering somewhat, brokers said. The main All Share Price Index closed down 3.35 percent (173.94 points) at 5,026.04, while the more liquid Milanka index fell 3.33 percent (150.49 […]
Sri Lanka policy reversals seen eroding sentiment
Feb 14, 2012 (LBO) – Recent policy reversals by Sri Lanka’s government has dampened investor sentiment and could lead to lower consumer spending, slowing economic growth, a stock broker said. The government raised interest rates, moved closer to floating the rupee by stopping interventions to defend the currency and jacked up fuel prices in quick […]