Sri Lankan stocks end lower



REUTERS

Published — Friday 5 July 2013

Last update 5 July 2013 2:57 am

| نسخة PDF Print News | A A

COLOMBO: Sri Lankan shares, led by market heavyweight John Keells Holdings, have weakened due to investors’ concerns over the rupee’s weakness, and worries that outflows from government securities could spread to equities.
The share index fell 0.73 percent to end at 6073.17, its lowest close since June 26.
Moody’s cut its credit rating outlook for Sri Lanka from positive to stable on Tuesday, adding to the bearish sentiment.
Turnover was at 738.1 million rupees ($ 5.65 million) yesterday, less than this year’s daily average turnover of about 1 billion rupees, according to provisional exchange data. John Keells lost 2.2 percent to 253.90 rupees.
The rupeeended steady at 130.55 per dollar, Thomson Reuters data showed, after the central bank said it can maintain exchange rate stability and there was little sign that foreign outflows from selling government securities would pose a significant risk.
Currency dealers, however, still see downward pressure on the rupee with foreign bond holders still selling their stakes in the secondary market after Moody’s move.
Currency dealers said the central bank also directed commercial banks not to buy dollars beyond 130.60. Officials from the central bank were not immediately available to comment.
 

What's happening around Saudi Arabia

RIYADH: A number of parents have complained about the lack of hygiene in schools, expressing fears about the potential spread of the MERS virus with the beginning of the new academic year. This comes in the backdrop of another death due to the deadly...
JEDDAH: Disputes over sharing of property or inheriting family business are common. But Dhahran has witnessed an unusual fight among four brothers — over donating kidney to their youngest brother.Coincidentally, all the brothers were found fit to don...
JEDDAH: A number of visually impaired citizens are expecting candidates to address their problems and make life easier for them after winning the Dec. 12 municipal elections.A section of these voters have also sought special programs so that they can...
RIYADH: The Ministry of Interior recently launched a series of training programs to upgrade the efficiency of its female staff as a new step to empower women and give them an opportunity to shine in security-related fields.Maha Frehi, the manager of...
RIYADH: Sixty-one Filipinos, who met with a vehicular accident on the day of Arafat on Nov. 5, 2011, hope to come to the Kingdom as the guests of Custodian of the Two Holy Mosques King Salman.Most of them could not complete the Haj rituals because of...
JEDDAH: At the start of each academic year, parents face a common and expected problem — their children are afraid of going to school.After spending five years in the arms of their mothers and siblings, children know leaving home means entering a new...

Stay Connected

Facebook