Sri Lanka stocks close down 0.9-pct

Oct 10, 2014 (LBO) – Sri Lanka’s stocks closed 0.88 percent lower with tobacco and banking stocks losing ground amid strong foreign selling, brokers said.

The Colombo benchmark All Share Price Index closed 65.08 points lower at 7,321.00, down 0.88 percent. The S&P SL20 closed 41.33 points lower at 4,110.02, down 1.00 percent.

Turnover was 2.81 billion rupees, up from 1.46 billion rupees a day earlier with 53 stocks closed positive against 164 negative.

John Keells Holdings closed 1.10 rupees lower at 250.90 rupees with nine off-market transactions of 443.77 million rupees changing hands at 250.00 rupees per share contributing 16 percent of the turnover.

The aggregate value of all off-the-floor deals represented 20 percent of the daily turnover.

Chilaw Finance closed 50 cents higher at 26.00 rupees with market transactions of 495.47 million rupees contributing 18 percent of the turnover.

Millennium Housing Developers closed 60 cents lower at 5.00 rupees with market transactions of 495.47 million rupees contributing 16 percent of the turnover.

Access Engineering closed 1.10 rupees lower at 31.60 rupees and MTD Walkers closed 3.90 rupees lower at 53.30 rupees, attracting most number of trades during the day.

Foreign investors bought 274.28 million rupees worth shares while selling 780.29 million rupees worth shares.

Ceylon Tobacco Company closed 25.20 rupees lower at 1,124.90 rupees with the company increasing its cigarette prices from midnight today while contributing most to the index drop.

DFCC Bank closed 6.20 rupees lower at 229.80 rupees and Commercial Bank of Ceylon closed 1.70 rupees lower at 167.20 rupees.

Hatton National Bank closed 3.70 rupees lower at 195.00 rupees.