Sri Lanka stocks close down 0.44-pct

Oct 16, 2014 (LBO) – Sri Lanka’s indices closed in the red with telco and banking stocks losing ground despite strong foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 31.76 points lower at 7,257.07, down 0.44 percent. The S&P SL20 closed 8.45 points lower at 4,056.39, down 0.21 percent.

Turnover was 1.54 billion rupees, down from 1.59 billion rupees a day earlier with 47 stocks closed positive against 154 negative.

Commercial Bank of Ceylon closed 1.80 rupees higher at 165.00 rupees with four off-market transactions of 258.85 million rupees contributing 17 percent of the turnover.

The aggregate value of all off-the-floor deals represented 29 percent of the daily turnover.

Alufab closed 4.30 rupees higher at 28.00 rupees and Brac Lanka Finance closed 1.80 rupees higher at 11.50 rupees, attracting most number of trades during the day.

Foreign investors bought 821.23 million rupees worth shares while selling 249.03 million rupees worth shares.

DFCC Bank closed 7.60 rupees lower at 217.10 rupees and Sri Lanka Telecom closed 60 cents lower at 50.90 rupees, contributing most to the index drop.

Lanka Orix Leasing Company closed 2.00 rupees lower at 86.00 rupees and People’s Leasing and Finance closed 50 cents lower at 20.50 rupees.

Access Engineering closed 70 cents lower at 31.00 rupees and Ceylon Tobacco Company closed 14.90 rupees higher at 1,160.00 rupees.