Sri Lanka stocks close down 0.3-pct

Mar 28, 2014 (LBO) – Sri Lanka’s stocks close 0.34 percent lower Friday with tobacco and insurance stocks losing ground amid strong foreign selling, brokers said. Piramal Glass Ceylon closed 10 cents lower at 3.40 rupees and George Steuart Finance closed 16.30 rupees lower at 49.80 rupees, attracting most number of trades during the day.

Ceylon Tobacco Company closed 31.70 rupees lower at 1,053.30 rupees and Ceylinco Insurance closed 71.60 rupees lower at 1,321.00 rupees, contributing most to the index drop.

Dialog Axiata closed 10 cents lower at 9.00 rupees and Sri Lanka Telecom also closed 10 cents lower at 46.80 rupees.

Carson Cumberbatch closed 5.00 rupees higher at 365.00 rupees and Asiri Hospital Holdings closed 70 cents higher at 21.70 rupees.

Nestle Lanka closed 16.70 rupees higher at 2,010.00 rupees and Commercial Leasing and Finance closed 10 cents lower at 3.90 rupees.

DFCC closed 1.80 rupees lower at 143.00 rupees and Commercial Bank closed 1.90 rupees higher at 122.90 rupees.

AIA Insurance Lanka closed flat at 270.30 rupees with the company on Thursday passing an extraordinary resolution to separate its life and general insurance business in accordance with the segregation requirements of the insurance regulator.

The Colombo benchmark All Share Price Index closed 20.45 points lower at 5,972.17 down 0.34 percent. The S&P SL20 closed 4.52 points higher at 3,278.67, up 0.14 percent.

Turnover was 3.29 billion rupees, up from 1.62 billion rupees a day earlier with 55 stocks close positive against 108 negative.

John Keells Holdings closed 2.20 rupees higher at 225.00 rupees with market transactions of 2.83 billion rupees contributing to 86 percent of the daily turnover.

JKH’s W0022 warrants closed 40 cents higher at 66.30 rupees and its W0023 warrants closed 1.50 rupees higher at 71.20 rupees.

The aggregate value of all off market deals accounted for 6 percent of the turnover.

Foreign investors bought 87.95 million rupees worth shares while selling 2.86 billion rupees worth shares.