Sri Lanka stocks close down 0.9-pct

Sep 07, 2015 (LBO) – Sri Lankan stocks closed down 0.91 percent on Monday for the second consecutive session amid notable depreciation in rupee with losses across the board, brokers said. The Colombo benchmark All Share Price Index closed down 65.41 points at 7,149.70, lower 0.91 percent. S&P SL20 closed 26.83 points lower at 3,931.00 down 0.68 percent. “There was low investor activity as it was affected by the impact of the regional markets and the rupee devaluation,” Lanka Securities said. The Sri Lanka rupee opened flat at 137.50/138.00 Monday, the second day after the Central Bank reduced interventions with some exporter conversions and forward market activity. Turnover was 599 million rupees, up from 540 million rupees, Friday with 21 stocks closing positive against 156 negative. The main index showed losses in Dialog Axiata closing at 11.10 rupees down 0.30 rupees and Nestle Lanka closing at 2,008.50 rupees, down 41.50 rupees. Hayleys closed at 322.90 rupees, down 27.10 rupees. The Central Bank stopped intervention on rupee on last Friday  and floated the currency which led to a 2.1 percent fall within two days. The rupee has depreciated by 4.9 percent during the year so far. Foreign investors remained as net buyers for the second consecutive session with a net inflow of  70 million rupees with foreign participation at 17 perecnt. Net foreign inflows were seen in Central Finance 57 million rupees, John Keells Holdings 47 million rupees and  Hayleys 8 million rupees while net foreign outflow was mainly seen in Ceylon Brewery 55 million rupees. Banking stocks made losses with Commercial Bank closing at 168.00 rupees, down 1.50 rupees and DFCC Bank closed down at 185.00 rupees, down 2.40 rupees. John Keells Holdings closed at 177.30 rupees, up 0.30 rupees. (UPDATED)