Sri Lanka stocks close down 0.6-pct

Dec 02, 2014 (LBO) – Sri Lanka’s stocks closed 0.62 percent lower with telco, beverages and oil palm stocks losing ground amid net foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 45.10 points lower at 7,230.58, down 0.62 percent.

The S&P SL20 closed 15.54 points lower at 4,025.13, down 0.38 percent.

Turnover was 1.00 billion rupees, up from 983.57 million rupees a day earlier with 72 stocks closed positive against 113 negative.

Access Engineering closed flat at 38.00 rupees with six off market transactions of 249.50 million rupees contributing 25 percent of the turnover.

The aggregate value of all off-the-floor deals represented 30 percent of the daily turnover.

Lanka Cement closed 50 cents higher at 5.00 rupees, attracting most number of trades during the day.

Foreign investors bought 444.71 million rupees worth shares while selling 83.0 million rupees worth shares.

Nestle Lanka closed 49.80 rupees lower at 2,110.00 rupees and Good Hope closed 369.90 rupees lower at 1,629.00 rupees, contributing most to the index drop.

Dialog Axiata closed 30 cents lower at 12.80 rupees and Sri Lanka Telecom closed 1.20 rupees lower at 47.30 rupees.

Lanka Orix Leasing Company closed 3.50 rupees lower at 91.00 rupees.

Renuka Holdings has raised 1.03 billion rupees from a rights issue oversubscribed on Tuesday, the company said in a stock exchange filing.