Wednesday, April 25, 2012

Sri Lankan stocks flat, rupee hits new intra-day low

April 25, 2012 (LBO) – Stock prices in Sri Lanka, continued to head south, as investors remained on the sidelines, while the rupee slid to a new record low before recovering Wednesday, brokers and dealers said.

 Colombo's All Share Price Index fell 1.52 points or 0.02 percent to 5,440.01, while the liquid Milanka Price Index lost 4.60 points of 0.09 percent to close trading on Wednesday at 4,886.80, according to Colombo Stock Exchange figures.

 The day's turnover of 312.8 million rupees was largely driven by bluechips and financial services stocks, brokers said.

Conglomerate John Keells Holdings PLC, with interest spanning leisure to transport, fell 70 cents to close at 205.10 on volumes of 246,340.

CIC Holdings PLC, which has interest from fresh farm produce to paints, was flat at 100.00 rupees on volumes of 315,552.

The day's other notable trade came from DFCC Bank, which gained 90 cents to 120.00 rupees on volumes of 120,141 shares.

Brokers said investors were looking for some direction to invest at a time the foreign exchange market was showing signs of weakness.

In the foreign exchange market, the rupee recovered to 133.00 levels against the US dollar from a low of 133.50/134.00 in intra-day trading after a state bank sold dollars.

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