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STOCKS - SRI LANKA SHARES FALL SHARPLY - SEPT 30, 2008.
COLOMBO, Sept 30 Asia Pulse - Sri Lankan shares fell sharply Tuesday, pulled down largely by the slide in the two heavyweight telecom stocks on earnings fears as investors remained nervous about the local and global economy, brokers said.
The All Share Price Index fell almost two per cent (43.27 points) to 2,142.26 while the Milanka was down 2.26 per cent (55.43 points) to 2,397.19. Turnover was 122 million rupees.
The slide meant the market lost 14.1 billion rupees in value with market capitalisation down to 699.3 billion rupees.
Mohan Thangarajah of First Guardian Equities said investors remained worried about company earnings.
"Foreign funds were also selling out of blue chips and the bond market, which could lead to a weaker rupee that would also make their portfolios in local stocks worth less."
The slump in the Colombo bourse came as most stock markets around the world crashed Tuesday after US lawmakers unexpectedly rejected a multi-billion-dollar bailout of beleaguered financial institutions.
Most Asian indices closed sharply lower on Tuesday after a record plunge on Wall Street overnight.
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- News wire article from: AsiaPulse News September 28, 2009 700+ words
...Sept 28 Asia Pulse - Sri Lanka's overvalued currency...Bank from 2004 to 2008, Sri Lanka's rupee has become 'overvalued...manipulate interest rates. Sri Lanka's central bank has...compensated by a weakening rupee when the government created...
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...the very best of what Sri Lanka has to offer its foreign...take the next flight to Sri Lanka or with the Tamil New...similar package for One Rupee Only in this special...two children going to Sri Lanka for Two Rupees Only! Enjoy legendary...
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- News wire article from: TendersInfo July 3, 2009 700+ words
...statement.' Sri Lanka's central bank...pressure on the rupee that saw it hit...million Sri Lankan rupees ($2.98 million...weaker at 47.25 rupees a share, calculated...weaker at 136 rupees a share, bourse data showed. Sri Lanka revised up its...percent in May. The ...
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- News wire article from: AsiaPulse News October 1, 2008 700+ words
...Sri Lankan currency the rupee broke its peg at 107.90 and spiked to 108.35 rupees against the green back...out of the country. Sri Lanka's central bank has...effective float of the rupee on Tuesday could nip...risen by about 15 billion rupees by Monday indicating...
- SRI LANKA NEEDS TO DEPRECIATE RUPEE: ADB ECONOMIC ANALYSIS.
- News wire article from: AsiaPulse News April 1, 2009 700+ words
...April 1 Asia Pulse - Sri Lanka should adopt a more...and depreciate the rupee to make exports more...lead economist for Sri Lanka Narhari Rao said...said the 16 billion rupee (US$138.2 million...Domestic Product. "But Sri Lanka does not have that...
- FOREX - SRI LANKA RUPEE FALLS TO NEW LOW - FEB 25, 2009.
- News wire article from: AsiaPulse News February 26, 2009 700+ words
...while on tom market the rupee fell to a low of 114...a spot deal. But in Sri Lanka now a spot dollar is almost a rupee cheaper than a tom dollar. Sri Lanka's central bank started...jumped to 184 billion rupees from 165 billion rupees...
- Sri Lanka Central Bank Keeps Rupee Steady After U.S. Fund Inflow
- Newspaper article from: Reuters Hedgeworld August 20, 2009 700+ words
...upward pressure on the rupee, but the central bank...Monday [Aug. 17], the rupee appreciated for the first...upward pressure on the rupee remained. The all...fixed-line operator Sri Lanka Telecom SLTL.CM closed 0.5% firmer at 42.75 rupees, calculated on a weighted...
- Sri Lanka: Sri Lanka starts dollar swaps to absorb rupee liquidity.
- News wire article from: TendersInfo November 4, 2009 700+ words
...of dollar-rupee swaps to withdraw...official said. Sri Lanka's Central...bills to absorb rupees generated from...the one month rupee rate for the rupees it generates...bear the full rupee interest cost...percent, but the Sri Lanka interbank dollar...
Source: HighBeam Research, STOCKS - SRI LANKA SHARES FALL SHARPLY - SEPT 30, 2008.