Sri Lanka stocks close down 0.1-pct

Aug 05, 2014 (LBO) – Sri Lanka’s stocks closed 0.10 percent lower with Ceylon Tobacco Company losing ground despite net foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 6.73 points lower at 6,815.42, down 0.10 percent. The S&P SL20 closed 17.30 points lower at 3,743.03, down 0.46 percent.

Turnover was 1.57 billion rupees, down from 2.29 billion rupees a day earlier with 106 stocks closed positive against 95 negative.

Capital Alliance Finance closed 30 cents higher at 15.50 rupees with three off-market transactions of 410.66 million rupees changing hands at 15.50 rupees per share contributing 26 percent of the daily turnover.

Capital Alliance Holdings has divested its 68.43 percent stake of Capital Alliance Finance to Cargills Bank at a price ranging from 15.40 rupees to 15.50 rupees per share on Tuesday, Capital Alliance Finance said in a stock exchange filing.

The aggregate value of all off-the-floor deals represented 43 percent of the turnover.

Chilaw Finance closed 1.30 rupees higher at 24.00 rupees, attracting most number of trades during the day.

Foreign investors bought 369.30 million rupees worth shares while selling 262.17 million rupees worth shares.

Ceylon Tobacco Company closed 11.90 rupees lower at 1,137.20 rupees, contributing most to the index drop.

Lion Brewery Ceylon closed 17.70 rupees lower at 608.40 rupees and Carson Cumberbatch closed 5.00 rupees lower at 460.00 rupees.

Dialog Axiata closed 10 cents lower at 10.80 rupees and Sri Lanka Telecom closed 80 cents higher at 56.70 rupees.