Sri Lanka stocks, rupee down as bombings push investors away

 (Reuters) - Sri Lankan shares fell on Friday for a seventh straight day, closing at their lowest in six-and-a-half years, and the rupee slipped for a second day, as the Easter bombings drove off investors.

** Sri Lanka’s economic growth is expected to slump to its lowest in nearly two decades this year, a Reuters poll showed. Tourism, foreign investment and overall business activity have all dropped after the bombings.

** Investigators have dismantled a major part of the network linked to the bombings, Prime Minister Ranil Wickremesinghe said on Tuesday. But he warned further attacks could not be ruled out. ** The benchmark stock index ended 0.46 percent weaker on Friday at 5,327.68, its lowest close since Dec. 5, 2012.

** Turnover was 152.8 million rupees ($867,689), lower than this year’s daily average of around 565 million rupees. Last year’s daily average was 834 million rupees.

** Foreign investors bought a net 20 million rupees worth of shares on Friday, but they have been net sellers of 4.4 billion rupees worth of equities so far this year.

** The rupee closed weaker for a second session on Friday on dollar demand from banks.

** The rupee dropped 0.3 percent to close at 176.10/60 per dollar, compared with Thursday’s close of 175.60/90, Refinitiv data showed.

** Analysts expect the currency to weaken further as money flows out of stocks and government securities.

** The rupiah gained 0.6 percent this week and was up 4.5 percent for the year. Exporters had converted dollars as investor confidence stabilised after a $1 billion sovereign bond was repaid in mid-January.

** The rupee dropped 16 percent in 2018 and was one of the worst-performing currencies in Asia.

** Foreign investors sold a net 10.8 billion rupees worth of government securities in the week ended May 8, extending net foreign outflow to 20.8 billion rupees so far this year, central bank data showed.

** Investor sentiment was damaged at the end of last year, when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move unconstitutional, but the political turmoil led to credit rating downgrades and an outflow of foreign funds.

($1 = 176.1000 Sri Lankan rupees)

(Reporting by Shihar Aneez, editing by Larry King)

Sri Lanka rupee rises; stocks edge higher ahead of long weekend

Reuters: ** The Sri Lankan rupee closed 0.34 percent firmer on Thursday helped by banks’ dollar sales, while stocks ended marginally higher for the fourth straight session in thin trade ahead of a long weekend. 

** Many investors were on a holiday during the three-day week due to two long weekends. Both Monday and Friday in this week are public holidays. 

** The currency ended at 173.95/174.25 to the dollar, higher than Wednesday’s close of 174.55/65, Refinitiv Eikon data showed. 

** The island nation’s currency gained 0.3 percent this week, and 5.2 percent so far this year, as exporters converted dollars amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Sri Lanka plunged into a political turmoil in October last year when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 2 billion rupees worth of government securities in the week ended April 10, the second weekly fall in six weeks, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.05 percent firmer at 5,606.35. 

** The benchmark stock index gained 0.4 percent in the week. However, it has declined 7.4 percent so far this year. 

** Turnover came in at 200.3 million rupees ($1.15 million), nearly a third of this year’s daily average of 593.5 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 2.8 million rupees worth of shares on Thursday, but the market has seen a year-to-date net foreign outflow to 6 billion rupees worth of equities. 

($1 = 173.9500 Sri Lankan rupees) 

(Reporting by Shihar Aneez; Editing by Rashmi Aich)

Sri Lanka rupee edges higher; stocks rise for third session

Reuters: ** The Sri Lankan rupee closed a tad firmer on Wednesday helped by banks’ dollar sales, while stocks ended marginally higher for the third straight day in thin trade. 

** Many investors were on holiday in a three-day week due to two long weekends. Both Monday and Friday in this week are public holidays. 

** The currency ended at 174.55/65 to the dollar, higher than Tuesday’s close of 174.60/75. The markets were closed on Monday for a public holiday in lieu of traditional new year that fell on Sunday. 

** Traders expect lower trade in both currency and stock markets in the three-day week. 

** The island nation’s currency gained 0.26 percent last week, and 4.8 percent so far this year, as exporters converted dollars amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Sri Lanka was plunged into political turmoil in October last year when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 2 billion rupees worth of government securities in t=(he week ended April 10, the second weekly fall in six weeks, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.2 percent firmer at 5,603.35. 

** The benchmark stock index fell 0.6 percent last week, recording its first weekly fall in three. The index has declined 7.4 percent so far this year. 

** Turnover came in at 188.8 million rupees ($1.08 million), less than a third of this year’s daily average of 599.1 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 46.4 million rupees worth of shares on Wednesday, but the market has seen a year-to-date net foreign outflow to 6 billion rupees worth of equities. 

($1 = 174.5000 Sri Lankan rupees) 

(Reporting by Shihar Aneez; Editing by Rashmi Aich)

Sri Lanka rupee edges down; stocks end tad firmer

Reuters: ** The Sri Lankan rupee closed tad weaker on Tuesday, while stocks ended tad firmer in thin trade after a long weekend. 

** The currency ended at 174.60/75 to the dollar, lower than Friday’s close of 174.45/55. The markets were closed on Monday for a public holiday in lieu of traditional new year that fell on Sunday. 

** Traders expect lower trade in both currency and stock markets in the three-day week as Friday is also being declared as a public holiday. 

** The island nation’s currency gained 0.26 percent last week, and 4.7 percent so far this year, as exporters converted dollars amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Sri Lanka was plunged into political turmoil in October last year when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 2 billion rupees worth of government securities in the week ended April 10, the second weekly fall in six weeks, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.1 percent firmer at 5,591.83. 

** The benchmark stock index fell 0.6 percent last week, recording its first weekly fall in three. The index has declined 7.6 percent so far this year. 

** Turnover came in at 173 million rupees ($990,836.20), less than this year’s daily average of 605 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 31.4 million rupees worth of shares on Tuesday, but the market has seen a year-to-date net foreign outflow to 6.04 billion rupees worth of equities. 

($1 = 174.6000 Sri Lankan rupees) 

(Reporting by Shihar Aneez; Editing by Rashmi Aich)

Sri Lanka rupee ends steady; stocks edge up ahead of long holidays

Reuters: ** The Sri Lankan rupee closed steady on Friday while stocks ended tad firmer in thin trade ahead of a long weekend due to traditional new year. 

** The currency ended at 174.45/55 to the dollar. 

** Sri Lanka’s currency, stock, and bond markets will be closed for a holiday on Monday for a public holiday in lieu of traditional new year falling on a Sunday. 

** The island nation’s currency gained 0.26 percent this week, and 4.8 percent so far this year, as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Sri Lanka was plunged into political turmoil in October when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 2 billion rupees worth of government securities in the week ended April 10, the second weekly fall in six weeks, the latest central bank data showed. ** The Colombo Stock Exchange index ended 0.1 percent firmer at 5,585.30. 

** The benchmark stock index fell 0.6 percent this week, recording its first weekly fall in three . The index has declined 7.7 percent so far this year. 

** Turnover came in at 184.2 million rupees ($1.06 million)($2.64 million), less than this year’s daily average of 611 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 1.1 million rupees worth of shares on Thursday, but the market has seen a year-to-date net foreign outflow to 6.1 billion rupees worth of equities. 

** The latest budget aims to increase government spending by 13 percent in 2019, during which the presidential election must be held, while it has set an ambitious goal to reduce a large fiscal deficit. 

($1 = 174.5000 Sri Lankan rupees) 

(Reporting by Shihar Aneez; Editing by Alison Williams)

Sri Lanka rupee ends firmer; stocks dip on foreign outflows

Reuters: ** The Sri Lankan rupee closed slightly firmer on Thursday, supported by dollar inflows from remittances ahead of the traditional new year, while stocks ended lower due to foreign outflows in moderate trade. 

** Markets shrugged off the central bank’s decision on Monday to leave its key interest rates unchanged, a widely expected move to boost an economy struggling in the wake of a political crisis. 

** The currency ended at 174.45/55 to the dollar, compared with Wednesday’s close of 174.60/70. 

** Dollar buying by state banks prevented sharp gains in the currency, market sources said. 

** The island nation’s currency gained 0.26 percent last week, and 4.8 percent so far this year, as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Dealers expect the pressure on the rupee to ease with more inward remittances ahead of the Sinhala-Hindu New Year on April 14. 

** Sri Lanka was plunged into political turmoil in October when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 1.9 billion rupees worth of government securities in the week ended April 3, the first weekly fall in five weeks, but foreign investors were net buyers of 1.6 billion rupees so far this year, the latest central bank data showed. 

** The Colombo Stock Exchange index ended marginally weaker at 5,576.11. 

** The benchmark stock index rose 1.2 percent last week, recording its second consecutive weekly gain in nine. The index has declined 7.8 percent so far this year. 

** Turnover came in at 459.76 million rupees ($2.64 million), around less than this year’s daily average of 618 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors sold a net 164.9 million rupees worth of shares on Thursday, extending the year-to-date net foreign outflow to 6.1 billion rupees worth of equities. 

** The latest budget aims to increase government spending by 13 percent in 2019, during which the presidential election must be held, while it has set an ambitious goal to reduce a large fiscal deficit.

($1 = 174.4500 Sri Lankan rupees) 

(Reporting by Shihar Aneez, Editing by Sherry Jacob-Phillips)

Sri Lanka rupee firms on remittances; stocks end steady

Reuters: ** The Sri Lankan rupee ended stronger on Wednesday as dollar inflows from remittances ahead of the traditional new year provided support, while stocks closed steady in dull trade. 

** Markets shrugged off the central bank’s decision on Monday of leaving its key interest rates unchanged, a widely expected move to boost an economy struggling in the wake of a political crisis. 

** The currency ended at 174.60/70 to the dollar, compared with Tuesday’s close of 174.75/85. 

** The island nation’s currency gained 0.26 percent last week, and 4.6 percent so far this year, as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Dealers, however, expect the pressure on the rupee to ease with more inward remittances ahead of the Sinhala-Hindu New Year on April 14. 

** Sri Lanka was plunged into political turmoil in October when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 1.9 billion rupees worth of government securities in the week ended April 3, the first weekly fall in five weeks, but foreign investors were net buyers of 1.6 billion rupees so far this year, the latest central bank data showed. 

** The Colombo Stock Exchange index closed steady at 5,583.58. 

** The benchmark stock index rose 1.2 percent last week, recording its second consecutive weekly gain in nine. The index has declined 7.7 percent so far this year. 

** Turnover came in at 218.6 million rupees ($1.25 million), around a third of this year’s daily average of 620 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 10 million rupees worth of shares on Wednesday, buy they have sold year-to-date net foreign outflow of 5.9 billion rupees worth of equities. 

** The latest budget aims to increase government spending by 13 percent in 2019, during which the presidential election must be held, while it has set an ambitious goal to reduce a large fiscal deficit.

($1 = 174.5500 Sri Lankan rupees) 

(Reporting by Shihar Aneez, Editing by Sherry Jacob-Phillips)