Sri Lanka stocks close down 0.5-pct

Oct 14, 2015 (LBO) – Sri Lankan stocks closed down on Wednesday with continued losses in index heavy and banking sector stocks, brokers said.

The Colombo benchmark All Share Price Index closed down 38.13 points at 7,040.32 down 0.54 percent. S&P SL20 closed 32.33 points lower at 3,778.88 lower 0.85 percent.

“Investors are still keeping to the side lines awaiting policy directions from the government,” Lanka Securities said.

Turnover was 725 million rupees, down from 1.15 billion on Tuesday with 51 stocks closing positive against 110 negative.

The main index was dragged down by losses in Carson and Cumberbatch closing at 382.00 rupees, down 17.40 rupees and Bukit Darah closing at 620.00 rupees, down 16.00 rupees.

In the banking sector Commercial Bank closed at 156.00 rupees, down 1.90 rupees with one off the floor trade of 524,000 shares at 157.50 rupees.

DFCC closed at 174.50 rupees, down 1.60 rupees with the stock hitting a 52 week low of 174.00 rupees.

Sampath Bank closed at 258.00 rupees, down 0.40 rupees and National Development Bank closed at 217.50 rupees, down 0.50 rupees after hitting a 52 week low of 215.00 rupees.

Foreigners were net buyers for the day posting a net foreign inflow of 106.86 million rupees.

Sri Lanka’s Treasury bill yields were down across maturities at Wednesday’s auction with the 12-month yield dropping 08 basis points to close at 7.10 percent.