Sri Lanka stocks close down 0.1-pct: Eight and a half month low

Dec 09, 2015 (LBO) – Sri Lankan stocks closed down at 0.11 percent for a fourth consecutive day, Wednesday amid the increase in treasury yields after six weeks of decline, brokers said.

The Colombo benchmark All Share Price Index closed down 7.54 points at 6,841.55 down 0.11 percent. S&P SL20 closed 8.38 points down at 3,616.01 down 0.23 percent.

Turnover was at 586 million rupees, lower than the daily average of 1.1 billion rupees with 80 stocks closing positive against 90 negative.

The main index showed losses in Distilleries (closing at 257.10 rupees, down 1.1 percent, Dialog Axiata closed at 10.60 rupees, down 0.9 percent.

Chevron Lubricants closed at 350.00 rupees, down 1.7 percent and John Keells Holdings closed at 179.00, down 0.35 percent.

Active trading was seen in Commercial Bank, People’s Leasing & Finance, John Keells Holdings and Textured Jersey.

Foreign investors were net buyers with a net inflow of 67 million rupees while foreign participation was 41 percent.

Net foreign inflow was mainly seen in People’s Leasing & Finance 193 million rupees, DFCC Bank 32 million rupees, Commercial Bank non-voting  8 million rupees while net foreign outflow was mainly seen in Commercial Bank 150 million rupees.

Meanwhile, at today’s Treasury bill auction, Treasury yields advanced where one year T-bill yields inclined by 6 basis points from 6.86 percent to 6.92 percent while 6 months yields advanced by 5 basis points from 6.30 percent to 6.35 percent.