Sri Lanka stocks close down 0.14-pct

Oct 07, 2014 (LBO) – Sri Lanka’s stocks closed with losses due to negative price movements in index heavy John Keells Holdings, brokers said.

The Colombo benchmark All Share Price Index closed 10.59 points lower at 7,396.01, down 0.14 percent. The S&P SL20 closed 9.67 points lower at 4,150.64, down 0.23 percent.

Turnover was 1.74 billion rupees, down from 4.39 billion rupees last Friday with 86 stocks closed positive against 111 negative.

Ceylon Tobacco Company closed 1.50 rupees higher at 1,160.00 rupees with three off-market transactions of 137.53 million rupees changing hands at 1,150.00 rupees per share contributing 8 percent of the turnover.

The aggregate value of all off-the-floor deals represented 28 percent of the daily turnover.

Sanasa Development Bank closed 15.80 rupees lower at 100.10 rupees, attracting most number of trades during the day.

Foreign investors bought 757.35 million rupees worth shares while selling 769.84 million rupees worth shares.

Index heavy John Keells Holdings closed 6.70 rupees lower at 253.10 rupees, contributing most to the index drop.

JKH’s W0022 warrants closed 2.40 rupees lower at 76.30 rupees and its W0023 warrants closed 1.60 rupees lower at 81.90 rupees.

Sanasa Development Bank is to raise one billion rupees by way of a rights issue, the bank said in a stock exchange filing.

The existing shareholders will receive one new ordinary voting share at 80.00 rupees each for every two voting shares held.

The proceeds will be utilized to increase the bank’s capital base and its portfolio growth, the bank further said.