Sri Lankan stocks end flat; rupee strengthens

Reuters: ** Sri Lankan shares closed flat on Monday, as gains in consumer staples were offset by losses in telecommunications shares, while investors also waited for policy manifestos of key presidential candidates. The rupee ended firmer. 

** The benchmark stock index closed 0.01% higher at 5,863.99. The index has fallen 3.11% so far this year. 

** Meanwhile, the rupee ended 0.14% firmer at 181.70/80 per dollar compared with Friday’s close of 181.95/182.10. The currency is up 0.49% so far this year. 

** Foreign investors bought riskier assets for the second time in 14 sessions as campaigning got underway for the country’s presidential election scheduled on Nov. 16. 

** They purchased a net 216.2 million rupees ($1.19 million) worth of shares on Monday, but they have been net sellers of 3.78 billion rupees of equities so far this year, according to index data. 

** The two presidential frontrunners, former wartime defence chief Gotabaya Rajapaksa and housing minister Sajith Premadasa, are yet to announce their policy framework. Analysts said investors are waiting to see policies on tax, subsidies, and private businesses. 

** Equity market turnover was 1.17 billion rupees ($6.44 million), well above this year’s daily average of about 664.9 million rupees. Last year’s daily average was 834.0 million rupees. 

** Meanwhile, foreign investors sold government securities on a net basis for the eighth time in nine weeks, selling a net 724.9 million rupees worth of government securities in the week ended Oct. 16. 

** Total foreign outflows from government securities through Oct. 16 stood at 55.6 billion rupees, as per central bank data. 

** Sri Lanka’s central bank left its key rates unchanged last week after loosening policy earlier this year, although growth is likely to remain subdued as the economy faces rising global risks. 

($1 = 181.7000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; editing by Uttaresh.V)

Sri Lankan stocks end higher; rupee strengthens

Reuters: ** Sri Lankan shares closed slightly higher on Friday, buoyed by telecom and diversified stocks. The rupee ended firmer. 

** The benchmark stock index closed 0.06% higher at 5,863.48. The index gained 0.49% for the week, but has fallen 3.12% so far this year. 

** Meanwhile, the rupee ended 0.03% firmer at 181.95/182.10 per dollar compared with Thursday’s close of 182.00/10. The currency is up 0.36% so far this year.

** Foreign investors bought riskier assets for the first time in 13 sessions as campaigning got underway for the country’s presidential election.

** They bought a net 145.4 million rupees worth of shares on Friday, but they have been net sellers of 3.99 billion rupees of equities so far this year, according to index data.

** One of the two presidential frontrunners, former wartime defence chief Gotabaya Rajapaksa, has won the backing of President Maithripala Sirisena’s centre-left Sri Lanka Freedom Party (SLFP), in the election scheduled for Nov. 16.

** Rajapaksa and the other strong candidate Sajith Premadasa, the housing minister who has strong backing among the rural poor, started their campaigns last week.

** Equity market turnover was 1.05 billion Sri Lankan rupees ($5.77 million), well above this year’s daily average of about 662.3 million rupees. Last year’s daily average was 834.0 million rupees. 

** Foreign investors sold government securities on a net basis for the seventh time in eight weeks, selling a net 102.8 million rupees worth of government securities in the week ended Oct. 9. 

** Total foreign outflows from government securities through Oct. 9 stood at 54.9 billion rupees, as per central bank data.

** Sri Lanka’s central bank left its key rates unchanged last week after loosening policy earlier this year, although growth is likely to remain subdued as the economy faces rising global risks.

($1 = 181.9000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; editing by Uttaresh.V)

Sri Lankan stocks end higher on bargain hunting; rupee weaker

Reuters: ** Sri Lankan shares snapped two sessions of losses to end higher on Thursday as investors picked up beaten down stocks. The rupee closed weaker. 

** The benchmark stock index closed 0.40% higher at 5,860.09. The index has dropped 3.18% so far this year. 

** Meanwhile, the rupee ended 0.08% weaker at 182.00/10 per dollar compared with Wednesday’s close of 181.85/95. The currency is up 0.33% so far this year.

** Foreign investors were net sellers of riskier assets for 12th straight session as campaigning got underway for the country’s presidential election.

** They sold a net 10.7 million rupees worth of shares on Thursday, extending the year-to-date net foreign outflow to 4.14 billion rupees of equities, according to index data.

** One of the two presidential frontrunners, former wartime defence chief Gotabaya Rajapaksa, has won the backing of President Maithripala Sirisena’s centre-left Sri Lanka Freedom Party (SLFP), in the election scheduled for Nov. 16.

** Rajapaksa and the other strong candidate Sajith Premadasa, the housing minister who has strong backing among the rural poor, started their campaigns last week.

** Equity market turnover was 526.4 million Sri Lankan rupees ($2.89 million), less than this year’s daily average of about 660.2 million rupees. Last year’s daily average was 834.0 million rupees. 

** Foreign investors sold government securities on a net basis for the seventh time in eight weeks, selling a net 102.8 million rupees worth of government securities in the week ended Oct. 9. 

** Total foreign outflows from government securities through Oct. 9 stood at 54.9 billion rupees, as per central bank data.

** Sri Lanka’s central bank left its key rates unchanged last week after loosening policy earlier this year, although growth is likely to remain subdued as the economy faces rising global risks.

($1 = 181.9000 Sri Lankan rupees) (Reporting by Ranga Sirilal; editing by Uttaresh.V)

Sri Lankan stocks close lower for second day; rupee ends flat

Reuters: ** Sri Lankan stocks slipped for a second straight session on Wednesday, amid weakness in hotels and manufacturing shares, while the rupee ended flat. 

** The benchmark stock index ended 0.07% lower at 5,836.62. The index has dropped 3.56% so far this year. 

** Meanwhile, the rupee ended steady at 181.85/95 per dollar compared with Tuesday’s close. The currency is up 0.41% so far this year.

** Foreign investors were net sellers of riskier assets for 11th straight session as campaigning got underway for the country’s presidential election.

** They sold a net 95.6 million rupees worth of shares, extending the year-to-date net foreign outflow to 4.13 billion rupees of equities, according to index data.

** One of the two presidential frontrunners, former wartime defence chief Gotabaya Rajapaksa, has won the backing of President Maithripala Sirisena’s centre-left Sri Lanka Freedom Party (SLFP), in the election scheduled for Nov. 16.

** Rajapaksa and the other strong candidate Sajith Premadasa, the housing minister who has strong backing among the rural poor, started their campaigns last week.

** Equity market turnover was 540.2 million Sri Lankan rupees ($2.97 million), less than this year’s daily average of about 660.9 million rupees. Last year’s daily average was 834.0 million rupees. 

** Foreign investors sold government securities on a net basis for the seventh time in eight weeks, selling a net 102.8 million rupees worth of government securities in the week ended Oct. 9. 

** Total foreign outflows from government securities through Oct. 9 stood at 54.9 billion rupees, as per central bank data.

** Sri Lanka’s central bank left its key rates unchanged last week after loosening policy earlier this year, although growth is likely to remain subdued as the economy faces rising global risks.

($1 = 181.7500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal; editing by Uttaresh.V)

Sri Lanka stocks slip from near 6-week high on profit-taking; rupee weakens

Reuters: ** Sri Lankan stocks ended weaker on Tuesday, snapping a run of seven straight gaining sessions to slip from a near six-week high hit in the previous session as investors booked profits. The rupee currency ended weaker. 

** The benchmark stock index ended down 0.5% at 5,840.48, slipping from its highest close since Sept. 3. So far this year, the index has dropped 3.50%. 

** Meanwhile, the rupee was 0.49% weaker at 181.85/95 per dollar, compared with Monday’s close of 180.90/181.10. The currency is up 0.41% so far this year.

** Foreign investors were net sellers of riskier assets as campaigning got under war in the country’s presidential election.

** Foreign investors continued selling for the 10th straight session. They sold a net 79.9 million rupees worth of shares, extending the year-to-date net foreign outflow to 4.03 billion rupees of equities, according to index data.

** One of the two presidential frontrunners, former wartime defence chief Gotabaya Rajapaksa, has won the backing of President Maithripala Sirisena’s centre-left Sri Lanka Freedom Party (SLFP), in the election scheduled for Nov. 16.

** Rajapaksa started his campaign last week, while the other strong candidate Sajith Premadasa, the housing minister who has strong backing among the rural poor, also kicked off his campaign in the previous week.

** Sri Lanka’s central bank left its key rates unchanged on Friday after loosening policy earlier this year, although growth is likely to remain subdued as the economy faces rising global risks.

** Equity market turnover was 583.4 million Sri Lankan rupees ($3.21 million), well above this year’s daily average of about 661.6 million rupees. Last year’s daily average was 834.0 million rupees. 

** Foreign investors sold government securities on a net basis for the seventh time in eight weeks, selling a net 102.8 million rupees worth of government securities in the week ended Oct. 9.

 ** Foreign outflows, which are one of the major reasons behind the rupee’s recent weakness, may not abate until after a parliamentary election in 2020, some analysts had said. 

** The central bank does not release foreign trade numbers on a daily basis, but weekly data in the past six weeks through Sept. 25 has shown a steady outflow. ** Sri Lanka has seen a net foreign outflow of 54.9 billion rupees through Oct. 9, according to central bank data. 

($1 = 181.6500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal; Editing by Alex Richardson)

Sri Lanka stocks hit near 6-week high; rupee weakens

Reuters: ** Sri Lankan stocks rose for the seventh straight session on Monday to hit a near six-week high as beverage and banking shares rallied. However, the rupee ended weaker. 

** The benchmark stock index ended 0.61% firmer at 5,870.09, its highest close since Sept. 3. So far this year, the index has dropped 3.01%. 

** Meanwhile, the rupee was 0.14% weaker at 180.90/181.10 per dollar compared with Friday’s close of 180.65/75. The currency is up 0.93% so far this year.

** Foreign investors were net sellers of risky assets as presidential poll campaigning began in the nation.

** Foreign investors continued selling for the ninth straight session. They sold a net 204 million rupees worth of shares, extending the year-to-date net foreign outflow to 3.95 billion rupees of equities, according to index data.

** One of the two presidential frontrunners, former wartime defence chief Gotabaya Rajapaksa, is possibly getting the broader support of other smaller parties after President Maithripala Sirisena’s center-left Sri Lanka Freedom Party (SLFP) pledged its backing for his candidature in the election scheduled for Nov. 16.

** Rajapaksa started his campaign last week, while the other strong candidate Sajith Premadasa, the housing minister who has the backing of most of the rural poor, also kicked off his campaign in the previous week.

** Sri Lanka’s central bank left its key rates unchanged on Friday after loosening policy earlier this year, although growth is likely to remain subdued as the economy faces rising global risks.

** Equity market turnover was 1.1 billion Sri Lankan rupees ($6.08 million), well above this year’s daily average of about 662 million rupees. Last year’s daily average was 834.0 million rupees. 

** Foreign investors sold government securities on a net basis for the seventh time in eight weeks, they sold a net 102.8 million rupees worth of government securities in the week ended Oct. 9. 

** Foreign outflows, which are one of the major reasons behind the rupee’s recent weakness, may not abate until after a parliamentary election in 2020, some analysts had said. 

** The central bank does not release foreign trade numbers on a daily basis, but weekly data in the past six weeks through Sept. 25 has shown a steady outflow. 

** Sri Lanka has seen a net foreign outflow of 54.9 billion rupees through Oct. 9, according to central bank data. 

($1 = 180.9000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal; editing by Uttaresh.V)

Sri Lanka stocks hit five-week high; foreigners exit

Reuters: ** Sri Lankan stocks rose for the sixth straight session on Friday to hit their five-week high led by banking and beverage shares, but foreign investors exited from risky assets with the start of presidential poll campaigning. The rupee currency ended weaker.

** Sri Lanka’s central bank left its key rates unchanged on Friday after loosening policy earlier this year, although growth is likely to remain subdued as the economy faces rising global risks.

** Local investors picked up select shares, with one of the two presidential frontrunners, former wartime defence chief Gotabaya Rajapaksa, possibly getting the broader support of other smaller parties after President Maithripala Sirisena’s center-left Sri Lanka Freedom Party (SLFP) pledged its backing for his candidature in the election scheduled for Nov. 16.

** Rajapaksa started his campaign on Wednesday, while the other strong candidate Sajith Premadasa, the housing minister who has the backing of most of the rural poor, kicked off his campaign on Thursday.

** The benchmark stock index ended 0.35% firmer at 5,834.66, rising for the sixth straight session to its highest close since Sept. 5. The bourse rose 2.54% for the week. So far this year, the index has dropped 3.6%. 

** Equity market turnover was 1.13 billion Sri Lankan rupees ($6.26 million), nearly double of this year’s daily average of about 659 million rupees. Last year’s daily average was 834.0 million rupees. 

** Foreign investors were net sellers for the eight straight session. They sold a net 46.4 million rupees worth of shares, extending the year-to-date net foreign outflow to 3.7 billion rupees of equities, according to index data.

** Meanwhile, the rupee fell 0.1% weaker at 180.65/75 per dollar compared with Thursday’s close of 180.50/65. The currency is up 0.4% for the week and 1.1% so far this year.

** Foreign investors bought government securities on a net basis for the first time in seven weeks, buying 522 million rupees worth of government securities in the week ended Oct. 2. 

** The foreign outflows, which are one of the major reasons behind the rupee’s recent weakness, may not abate until after a parliamentary election in 2020, some analysts said. 

** The central bank does not release foreign trade numbers on a daily basis, but weekly data in the past five weeks through Sept. 25 has shown a steady outflow. 

** Sri Lanka has seen a net foreign outflow of 54.8 billion rupees through Oct. 2, according to central bank data. 

($1 = 180.5000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shailesh Kuber)