Sri Lanka stocks close 0.4-pct lower

Jan 28, 2014 (LBO) – Sri Lanka stocks close 0.43 percent lower Tuesday with diversified stocks losing ground despite net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 26.98points lower at 6,218.83, down 0.43 percent. The S&P SL20 closed 25.88 points lower at 3,435.87, down 0.75 percent.

Turnover was 1.45 billion rupees, up from 872.63 million rupees a day earlier, with stocks of 82 firms closing in the red against 93 gainers.

HNB closed 40 cents lower at 159.00 rupees with three off market transactions of 599.21 million rupees contributing to 41 percent of the turnover.

The Finance Company closed flat at 13.70 rupees, attracting most number of trades during the day.

Foreigners bought 545 million rupees worth shares while selling 278 million rupees of shares.

Ceylon Tobacco Company closed 39.20 rupees lower at 1,301.00 rupees and JKH closed 3.30 rupees lower at 235.90 rupees, contributing most to the index drop.

JKH’s W0022 warrants closed 2.20 rupees lower at 75.50 rupees and its W0023 warrants closed 30 cents lower at 80.00 rupees.

Ceylinco Insurance ended 128.00 rupees lower at 1,321.80 rupees and Dialog ended 10 cents lower at 9.40 rupees.

Carson Cumberbatch ended 4.00 rupees lower at 351.00 rupees and Bukit Darah ended 2.80 rupees higher at 614.80 rupees.

Finlays Colombo closed 36.90 rupees higher at 290.00 rupees and Distilleries closed 2.20 rupees higher at 207.70 rupees.

Nestle Lanka ended flat at 2,125.20 rupees and Lion Brewery closed 4.90 rupees lower at 380.10 rupees.

Cargills Ceylon closed 1.60 rupees lower at 150.50 rupees and Commercial Bank closed 90 cents lower at 127.10 rupees.

Lanka Orix Leasing Company ended 1.40 rupees lower at 73.60 rupees.

L B Finance closed 1.00 rupee lower at 101.00 rupees with its interim accounts showing 317.95 million rupees of net profit for the December 2013 quarter, a 17.3 percent decline compared to the same period of the previous year.

Earnings per share dropped to 4.05 rupees from 5.83 rupees, according to accounts filed with the stock exchange.

Textured Jersey closed 40 cents higher at 16.60 rupees with its accounts reporting 301.39 million rupees of net profit for the December quarter, a 17.4 percent decline compared to the same period of the previous year.

“The firm recorded a net profit of 804.96 million rupees for the nine months, up 16.0 percent over the previous year supported by strong growth in turnover.” the textile company said in a stock exchange filing.