Sri Lankan stocks hit near 8-month closing low as banks fall

Reuters: Sri Lankan shares fell on Wednesday to their lowest close in nearly eight months as investors sold banking and diversified shares.

The Colombo Stock Index fell 0.12 percent to 6,352.77, its lowest close since April 17. The index lost 0.6 percent last week in its fifth consecutive weekly drop, but is still up 2 percent so far this year.

“The market is down on retail selling. Investors who see value are collecting while retailers are selling,” said Reshan Kurukulasuriya, chief operating officer of Richard Pieris Securities (Pvt) Ltd.

“There was some foreign selling too.”

Turnover was 682.8 million rupees ($4.46 million), less than this year’s daily average of 940 million rupees.

Foreign investors, net buyers of 18.5 billion rupees worth of shares so far this year, sold equities worth net 63.9 million rupees on Wednesday.

Shares of biggest listed lender Commercial Bank of Ceylon Plc ended 2.7 percent weaker, while Ceylinco Insurance Plc fell 5.42 percent and Sampath Bank Plc ended 1.3 percent lower. Conglomerate John Keells Holdings Plc fell 0.1 percent.

($1 = 153.1000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal)

Sri Lanka 01-year Treasury Bill yield falls to 9.04-pct

ECONOMYNEXT – Sri Lankan Treasury Bill yields fell further at an auction Wednesday with the 01-year bill yield falling 30 basis points to 9.04 percent from 9.34 percent at the last auction.

The public debt department of the central bank said the 06-month Treasury Bill yield fell 28 basis points to 8.48 percent from 8.76 percent at the last auction. The 03-month bill was not sold.

The statement said the public debt department got bids worth Rs72 billion and accepted bids worth Rs17 billion.