Sri Lankan stocks recover from six-week low; Rupee down

sriranga

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COLOMBO | Tue Oct 23, 2012 4:43pm IST
Oct 23 (Reuters) - Sri Lankan stocks recovered from six-week lows with top fixed line operator Sri Lanka Telecom jumping 7 percent in thin trade on Tuesday, dealers said.

The Colombo Stock Exchange's main index edged 0.05 percent or 2.88 points up at 5,556.77, from its lowest close since Sept. 7.

"Market moved on some block deals while many were awaiting to see the direction specially ahead of the budget," said a stockbroker on condition of anonymity. The budget is to be unveiled next month.

Dealers said investors shrugged off a central bank decision to keep the key policy rates steady.

The day's turnover was 972.6 million rupees ($7.50 million), slightly above this year's daily average of 938 million rupees.

The market saw a net foreign inflow of 139 million rupees, extending the net inflow to 33.69 billion rupees so far this year.

The rupee ended weaker at 129.95/130.05 to the dollar compared to Monday's close of 129.75/80, on seasonal importer demand for dollars, dealers said.
($1 = 129.7000 Sri Lanka rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sanjeev Miglani)
http://in.reuters.com/article/2012/10/23/markets-srilanka-idINL3E8LN3Q120121023

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Thanks for sharing.

Redbulls · 3 Stocks close in green Tue Oct 23, 2012 6:00 pm

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By The Nation

Indices managed to close higher today with an improved turnover helped by private deals on Environmental Resource Investments and John Keells Holdings. The Central Bank kept policy rates unchanged today and thereby we can expect the interest rates to hold at these levels or to rise marginally. This will indicate that market might prolong its sluggish performance as interest rates and equities have an inverse relationship. Meanwhile, gains on John Keells Holdings, Commercial Bank and Ceylon Tobacco helped indices to close in green upon seeing a drastic drop yesterday.

Retail participation remained on the sidelines as blue-chips dominated turnover on the normal board. Foreign participation was considerable today as we suspect both buying and selling parties were foreign on the Environmental Resource Investments deals.

ASI gained 2.88 points (0.05%) to close at 5,556.77, MPI gained 1.47 points (0.03%) to close at 5,091.56 and the S&P SL20 index rose 3.55 points (0.12%) to close at 3,013.57. Turnover was Rs. 972.7Mn.

Top contributors to turnover were Environmental Resource Investments with Rs. 362.1Mn, John Keells Holdings with Rs. 135.3Mn and Environmental Resource Investments warrant-06 with Rs. 117.9Mn. Most active counters for the day were Browns Beach Hotel, Nation Lanka Finance and Swarnamahal Finance.

Notable gainers for the day were Stafford Hotels up by 6.9% to close at Rs. 38.50, Amana Takaful up by 6.3% to close at Rs. 1.70 and Blue Diamonds non-voting up by 5.6% to close at Rs. 1.90. Notable losers for the day were Multi Finance down by 3.4% to close at Rs. 31.00, Commercial Credit down by 15.5% to close at Rs. 15.00 and Browns down by 2.7% to close at Rs. 132.50.

Cash map for today was 79.74%. Foreign participation was 70% of total market turnover and foreigners were net buyers with Rs. 139Mn.
http://www.nation.lk/edition/biz-news/item/11765-stocks-close-in-green.html