Sri Lanka stocks close down 0.7-pct

Oct 21, 2014 (LBO) – Sri Lanka’s stocks closed 0.72 percent lower with banking stocks losing ground despite net foreign buying, brokers said. Commercial Bank of Ceylon closed 2.30 rupees lower at 158.60 rupees and Commercial Leasing and Finance closed 20 cents lower at 4.60 rupees, contributing most to the index drop.

Ceylinco Insurance closed 48.00 rupees lower at 1,302.00 rupees and Cargills Ceylon closed 4.00 rupees lower at 156.00 rupees.

Dialog Axiata closed 10 cents lower at 12.00 rupees.

The Colombo benchmark All Share Price Index closed 52.29 points lower at 7,161.16, down 0.72 percent. The S&P SL20 closed 25.09 points lower at 3,983.07, down 0.63 percent.

Turnover was 898.24 million rupees, up from 864.49 million rupees a day earlier with 35 stocks closed positive against 160 negative.

First Capital Holdings closed 2.50 rupees lower at 50.40 rupees and Madulsima Plantations closed 1.20 rupees higher at 18.00 rupees, attracting most number of trades during the day.

Foreign investors bought 439.23 million rupees worth shares while selling 274.16 million rupees worth shares.