Bourse near 1-month high on banks; rupee weaker

19 Mar 2013 - {{hitsCtrl.values.hits}}

Sri Lankan stocks rose for a third straight session yesterday to a near one-month high as investors picked up bank shares, but turnover was low as many investors stayed away because of rising interest rates.

The main index ended 0.27 percent higher at 5,704.53, its highest close since February 22. Analysts said many domestic investors stayed on the sidelines as yields on Treasury bills rose for the second week on Wednesday even though the Central Bank kept its key policy rates unchanged for a third straight month.

Shares in the biggest listed lender, Commercial Bank of Ceylon, rose 1.79 percent to Rs.114, while Hatton National Bank PLC rose 2.42 percent to Rs.160.80.

Turnover was Rs.309.34 million ($2.45 million), well below this year's daily average of Rs.1.02 billion.

Foreign investors were net sellers of Rs.5.9 million worth shares. They have been net buyers of Rs.3.76 billion worth shares this year.

The rupee ended weaker at 126.30/35 to the dollar from Friday's close of 126.10/20, due to importer dollar demand, dealers said.

Stock

Bourse near 1-month high on banks; rupee weaker

Most Popular Articles

LAUGFS gas prices remain unchanged

New US tariff could erode Sri Lanka’s export competitiveness: CCC warns

CSE slides sharply as Middle East tensions trigger broad-based selling

Global tariffs and geopolitical shockwaves trigger broad market selloff on CSE

CSE extends losses as geopolitical risks and tariff concerns weigh on sentiment

CSE rebounds as lower oil prices and strong crossings lift sentiment

Latest News

Environmental protection needs public participation beyond laws: Minister

Joint Opposition seeks dialogue with CIABOC chief

Enjoining order sought against occupant over alleged subletting and illegal activities

UAE to unlock billions of dollars for Iran: Reuters

First-ever orthodox bishop ordination ceremony held in Sri Lanka