Stocks near one-month low; rupee weaker

Reuters: Stocks fell for the third straight session on Wednesday to hit a near one-month low in low trade, dealers said, while the rupee ended weaker on importer dollar demand.

The Colombo Stock Exchange’s main index ended 1.04 per cent, or 60.80 points, weaker at 5,772.52, its lowest level since 13 September.





Turnover was Rs. 398 million ($ 3.10 million), well below this year’s daily average of Rs. 952 million. The Bourse saw a net foreign inflow of Rs. 96.7 million, extending the net foreign inflow so far this year to Rs. 32.48 billion. Brokers also said the introduction this week of eased regulations by the Securities and Exchange Commission had little effect on trading.

On Wednesday, T-bill rates fell to an eight-month low with the benchmark 91-day T-bill rates falling by 37 basis points to 10.63% at auction. The rupee closed weaker at 128.45/55 to the dollar compared with Tuesday’s close of 128.25/35, on importer dollar demand, dealers said.