August 5, 2011 / 11:22 AM / in 8 years

Sri Lanka stx at 1-week low in thin trade; rupee weaker

 * Bourse falls for fourth session
 * Corporate earnings so far fail to impress-traders
 * Rupee weaker as cenbank raises trading band
 COLOMBO, Aug 5 (Reuters) - Sri Lanka's bourse ended weaker
in thin volume on Friday, in a fourth straight fall as the
global market downturn began to infect the usually insulated
bourse, while the rupee weakened after the central bank raised
its trading band, traders said.	
 On Friday, world stocks sank for an eighth straight session,
wiping $2.5 trillion off company values on the week, as concern
ballooned over the slowing global economy and the spread of debt
anguish into Italy and Spain. 	
 Sri Lanka's main share index fell 1.18 percent in
early trade but closed 0.86 percent or 58.49 points weaker at
6,751.29, its lowest since July 29. 	
 "Sentiments of global markets are reflecting through our
market also," said a stockbroker on condition of anonymity. 
"The (earnings) results which came on so far are also not really
helping the market as they were not too exciting." 	
 The day's turnover was 1.17 billion Sri Lanka rupees ($10.7
million), well below last year's average of 2.4 billion and this
year's 2.65 billion.	
 Friday's total volume was 61.5 million, lowest since July
28, against five-day average of 85.1 million. The 30-day and
90-day average trading volumes were 83.5 million and 108.4
million, respectively. Last year's daily average was 67.9
million.	
 Foreign investors were net sellers of 66 million rupees
worth of shares on Friday, extending the week's outflow to 546
million rupees and 1.13 billion in the last nine sessions. They
have sold 8.79 billion rupees in 2011 after a record outflow of
26.4 billion in 2010.	
 The bourse is up 1.74 percent so far this year, after being
Asia's best performer in 2009 and 2010, gaining 124 percent and
96 percent respectively due to optimism over the economy after
the end of a 25-year war in May 2009. 	
 The rupee ended weaker at 109.70/75 a dollar
from Thursday's close of 109.66/68 as the central bank
raised the trading band by 10 cents to 109.20/80, to match the
dollar's strengthening against other major currencies, dealers
said.	
 	
     FACTORS TO WATCH:	
 - June quarter earnings of listed firms 	
 - If foreign investors buy shares in large volumes 	
 - Extent of the rupee's appreciation	
        	
 DATA	
 Colombo Stock Exchange:	
 Stock Market Volume (Shares)	
 Current Volume                     Average Volume 30 Days	
 61,465,150                         83,460,269	
	
 Yield and Price of Sri Lanka's sovereign bonds:	
         Maturing year   Tenure    amount      Reuters yield	
  2012       5-yr    $500 mln     2.889-2.484	
  2014       5-yr    $500 mln     3.677-3.388	
2020      10-yr  $1,000 mln    5.6408-5.5039	
2021      10-yr  $1,000 mln    5.7414-5.6121	
	
 * 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 <0#LKBMK=>.	
($1 = 109.665 Sri Lanka Rupees)	
	
 (Reporting by Ranga Sirilal; Editing by Bryson Hull)	
 	
 
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