Sri Lanka stocks close down 0.4-pct: Foreign participation 83-pct  

Jan 05, 2016 (LBO) – Sri Lankan stocks closed down at 0.43 percent for a third consecutive day with losses in illiquid stocks, brokers said.

The Colombo benchmark All Share Price Index closed lower at 27.65 points at 6,817.65 down 0.40 percent. S&P SL20 closed 13.07 points down at 3,573.18 down 0.36 percent.

Turnover was at 1.4 billion rupees with 45 stocks closing positive against 105 negative.

The main index showed losses in Ceylon Tobacco closing at 970.00 rupees, down 10.00 rupees and Lion Brewery closing at 610.00 rupees, down 20.00 rupees.

Active trading was seen in Taj Hotels with the stock closing at 25.90 rupees, up 0.80 rupees with an off the floor deal of 34.4 million shares changing hands at 25.00 rupees. The Indian Hotels Company Limited divested its stake of 34mn shares (24.6 percent of issued capital) to IHOCO BV at a consideration of LKR 25 per share. The deal alone contributed to 62 percent of today’s turnover.

Foreign investors were net sellers recording a net outflow of 132 million rupees with foreign participation at 83 percent.