COLOMBO, Aug 29 (Reuters) - Sri Lanka's stock market fell on
Monday on concerns over the lack of liquidity as a block trade
in HVA foods and retail speculation in Singer Finance boosted turnover.
The island nation's main share index lost 0.23
percent or 15.61 points to 6,837.35. It is the second-best
performer in Asia with a return of 3.04 percent on the year
after Indonesia.
Banking and manufacturing shares pulled the market down with
losers outperforming gainers by 123 shares to 82, Thomson
Reuters data showed..
Shares of the HVA Foods rose 19.5 percent. After the market
closed, the company in a statement said 6.64 million shares held
by its parent company HVA Lanka exports (private) limited was
purchased by media related company Divasa Equity (Private)
Limited at 45 rupees a share.
Singer Finance closed 5.6 percent firmer on speculation that
the company would perform better.
Both HVA and Singer Finance collectively accounted for 34.7
percent of the day's volume and 47.9 percent of the turnover.
The bourse witnessed a foreign outflow of 27.3 million
rupees on Monday, and thus far in 2011, offshore investors have
sold 10.49 billion after a record 26.4 billion in 2010.
The day's turnover was 2.60 billion Sri Lanka rupees ($23.64
million), more than last year's average of 2.4 billion and this
year's 2.7 billion.
After the end of a long civil war, Sri Lanka's bourse turned
into Asia's best performer in 2009 and 2010, gaining 124 percent
and 96 percent, respectively, but has touched negative
on-the-year territory this year.
Monday's total volume was 83.5 million, against a five-day
average of 67.6 million. The 30-day and 90-day average trading
volumes were 97.2 million and 117.6 million. Last year's daily
average was 67.9 million.
The rupee ended firmer at 109.88/90 a dollar from
Friday's close of 110.00, as a state bank, through which the
central bank usually directs the market, dropped the dollar
trading band by 10 cents to 109.60/90, dealers said.
FACTORS TO WATCH:
Whether:
- Retail investors continue buying shares
- Foreign investors buy shares in large volumes
- Rupee will rise after the cenbank relaxed tough FX
controls
DATA
Colombo Stock Exchange:
Stock Market Volume (Shares)
Current Volume Average Volume 30 Days
83,515,050 97,227,433
Yield and Price of Sri Lanka's sovereign bonds:
Maturing year Tenure amount Reuters yield 2012 5-yr $500 mln 3.533-3.103 2014 5-yr $500 mln 4.659-4.355 2020 10-yr $1,000 mln 6.2126-6.0681 2021 10-yr $1,000 mln 6.2475-6.1114
* For Sri Lankan treasury securities benchmarks and data,
please click and
* For interbank lending rate or call money rate or
* For secondary market rates, please see.
($1 = 109.990 Sri Lanka Rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Bryson
Hull)
((ranga.sirilal@thomsonreuters.com; +94-11-237-5903; Reuters
Messaging: ranga.sirilal.thomsonreuters.com@reuters.net))
Keywords: MARKETS SRILANKA/
(If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)
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