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* Bourse suffers 6.9 bln rupees outflow since Sept.1
* Banks lead fall; liquidity concerns remain
* Cenbank protects rupee fall - dealers
COLOMBO, Oct 6 (Reuters) - Sri Lanka's stock market fell for
a fourth straight session on Thursday and to a 10-week low, led
by banks, amid sustained foreign selling.
The main share index closed 0.43 percent, or 28.64
points, weaker at 6,677.84, its lowest close since July 28. It
is still the second-best performer in Asia-Pacific behind New
Zealand , with a return of 0.63 percent on the year,
The bourse witnessed a foreign outflow of 77.6 million
rupees extending offshore selling to 6.9 billion rupees since
Sept. 1. So far in 2011, offshore investors have sold 17.4
billion, after a record 26.4 billion in 2010.
Retail speculative buying was seen receding on Thursday due
to a liquidity crunch and concern over sustained foreign
selling.
"Global concerns have resulted in foreign selling and we
don't see any new foreign buying coming in," a stockbroker said
on condition of anonymity.
On Thursday, Central Bank Deputy Governor Dharma Dheerasinge
said Sri Lanka will see $1 billion inflow from foreign
investors, mainly into equities and corporate debt, and that
will help end the year in a net inflow.
Listed private lender Hatton National bank fell 1.5
percent, while leasing firm Capital Trust closed 1.9
percent weaker.
Turnover was 1.2 billion Sri Lanka rupees ($10.9
million), the lowest since Sept. 23, and less than last year's
average of 2.4 billion and this year's 2.7 billion.
Thursday's total volume was 73.2 million, against a five-day
average of 83.8 million. The 30-day and 90-day average trading
volumes were 147.8 million and 139.2 million. Last year's daily
average was 67.9 million.
The rupee closed steady at 110.18/20 per dollar, as
the state bank continued dollar sales at a flat rate of 110.20
rupees despite heavy importer dollar demand, dealers said.
Currency traders said the central bank's mopping up of
liquidity had created demand for local currency and, as a
result, exporters and banks sold dollars to buy the rupee.
The central bank mopped up 27.2 billion rupees from the
market on Tuesday through a repo auction at 7 percent.
The bank also pumped 7.29 billion rupees into the market
through its reverse repo auction, which it started on Wednesday,
at 7.259 percent, dealers said.
FACTORS TO WATCH:
- If the central bank can maintain a narrow dollar trading
range
- How much the central bank buys in repo auctions
- Rupee depreciation due to heavy importer dollar demand
DATA
Colombo Stock Exchange:
Stock Market Volume (Shares)
Current Volume Average Volume 30 Days
77,188,814 147,780,382
Yield and Price of Sri Lanka's sovereign bonds:
Maturing year Tenure amount Reuters yield
2012 5-yr $500 mln 5.727-5.234
2014 5-yr $500 mln 6.365-6.030
2020 10-yr $1,000 mln 7.6540-7.4896
2021 10-yr $1,000 mln 6.7072-6.5643
* For Sri Lankan treasury securities benchmarks and data,
please click and
* For interbank lending rate or call money rate or
* For secondary market rates, please see <0#LKBMK=>.
($1 = 110.200 Sri Lanka Rupees)
(Reporting Shihar Aneez; Editing by David Hulmes)
http://www.reuters.com/article/2011/10/06/markets-srilanka-idUSL3E7L61QU20111006
* Banks lead fall; liquidity concerns remain
* Cenbank protects rupee fall - dealers
COLOMBO, Oct 6 (Reuters) - Sri Lanka's stock market fell for
a fourth straight session on Thursday and to a 10-week low, led
by banks, amid sustained foreign selling.
The main share index closed 0.43 percent, or 28.64
points, weaker at 6,677.84, its lowest close since July 28. It
is still the second-best performer in Asia-Pacific behind New
Zealand , with a return of 0.63 percent on the year,
The bourse witnessed a foreign outflow of 77.6 million
rupees extending offshore selling to 6.9 billion rupees since
Sept. 1. So far in 2011, offshore investors have sold 17.4
billion, after a record 26.4 billion in 2010.
Retail speculative buying was seen receding on Thursday due
to a liquidity crunch and concern over sustained foreign
selling.
"Global concerns have resulted in foreign selling and we
don't see any new foreign buying coming in," a stockbroker said
on condition of anonymity.
On Thursday, Central Bank Deputy Governor Dharma Dheerasinge
said Sri Lanka will see $1 billion inflow from foreign
investors, mainly into equities and corporate debt, and that
will help end the year in a net inflow.
Listed private lender Hatton National bank fell 1.5
percent, while leasing firm Capital Trust closed 1.9
percent weaker.
Turnover was 1.2 billion Sri Lanka rupees ($10.9
million), the lowest since Sept. 23, and less than last year's
average of 2.4 billion and this year's 2.7 billion.
Thursday's total volume was 73.2 million, against a five-day
average of 83.8 million. The 30-day and 90-day average trading
volumes were 147.8 million and 139.2 million. Last year's daily
average was 67.9 million.
The rupee closed steady at 110.18/20 per dollar, as
the state bank continued dollar sales at a flat rate of 110.20
rupees despite heavy importer dollar demand, dealers said.
Currency traders said the central bank's mopping up of
liquidity had created demand for local currency and, as a
result, exporters and banks sold dollars to buy the rupee.
The central bank mopped up 27.2 billion rupees from the
market on Tuesday through a repo auction at 7 percent.
The bank also pumped 7.29 billion rupees into the market
through its reverse repo auction, which it started on Wednesday,
at 7.259 percent, dealers said.
FACTORS TO WATCH:
- If the central bank can maintain a narrow dollar trading
range
- How much the central bank buys in repo auctions
- Rupee depreciation due to heavy importer dollar demand
DATA
Colombo Stock Exchange:
Stock Market Volume (Shares)
Current Volume Average Volume 30 Days
77,188,814 147,780,382
Yield and Price of Sri Lanka's sovereign bonds:
Maturing year Tenure amount Reuters yield
2012 5-yr $500 mln 5.727-5.234
2014 5-yr $500 mln 6.365-6.030
2020 10-yr $1,000 mln 7.6540-7.4896
2021 10-yr $1,000 mln 6.7072-6.5643
* For Sri Lankan treasury securities benchmarks and data,
please click and
* For interbank lending rate or call money rate or
* For secondary market rates, please see <0#LKBMK=>.
($1 = 110.200 Sri Lanka Rupees)
(Reporting Shihar Aneez; Editing by David Hulmes)
http://www.reuters.com/article/2011/10/06/markets-srilanka-idUSL3E7L61QU20111006
