Stocks weaker; rupee firmer

Reuters:

Stocks fell for a fourth straight session on Thursday, with conglomerate John Keells Holdings hitting a one-month low, while the rupee ended a tad firmer on dollar sales by banks.

The Colombo Stock Exchange’s main index ended 0.89 per cent, or 51.66 points, weaker at 5,720.86, its lowest level since 12 September. Shares in John Keells Holdings PLC fell 2.54 per cent to 203.50 rupees a share. Stocks... Turnover was Rs. 679.2 million ($ 5.29 million), below this year’s daily average of Rs. 950 million. The Bourse saw a net foreign outflow of Rs. 10.1 million. However, foreigners have been net buyers to the tune of Rs. 32.47 billion this year. The rupee closed weaker at 128.30/40 to the dollar compared with Wednesday’s close of 128.45/55, on bank selling dollar demand, dealers said.