Sri Lanka stocks open higher; rupee flat amid intervention

Nov 17, 2008 (LBO) – Sri Lanka stocks opened up 0.89 percent amid thin turnover following a slew of poor earnings over the past week, and the rupee was flat against the greenback at 110.0 amid intervention, dealers said. The Colombo All Share Index was up 16.0 points and the Milanka index of liquid stocks was up 31 points (1.56 percent).

Index heavy Dialog Telekom gained 25 cents to trade at 7.00 rupees, despite reporting its first quarterly loss, and John Keells Holdings traded at 65.25 rupee flat.

The firm is closing a buy back at 90 rupees tomorrow.

In foreign exchange markets the rupee was trading at 110.00 rupees with a state bank that usually acts for the Central Bank on the sell side, dealers said.

Overnight call money was around 18.00/18.50 percent, and repo was 18.50 to 19.00 percent, dealers said.