Sri Lanka stocks close down 0.9-pct

Nov 27, 2014 (LBO) – Sri Lanka’s stocks closed 0.89 percent lower with telco and banking stocks losing ground despite net foreign buying, brokers said. Foreign investors bought 445.70 million rupees worth shares while selling 125.55 million rupees worth shares.

Commercial Bank of Ceylon closed 7.40 rupees lower at 160.60 rupees and Sri Lanka Telecom closed 1.70 rupees lower at 46.80 rupees, contributing most to the index drop.

Oil palm firms Shalimar (Malay) closed 382.00 rupees higher at 1,987.00 rupees and Good Hope closed 382.20 rupees higher at 1,998.90 rupees.

The Colombo benchmark All Share Price Index closed 63.83 points lower at 7,115.89, down 0.89 percent.

The S&P SL20 closed 47.55 points lower at 3,977.15, down 1.18 percent.

Turnover was 1.32 billion rupees, down from 1.70 billion rupees a day earlier with 35 stocks closed positive against 183 negative.

Access Engineering closed 1.20 rupees lower at 35.70 rupees with an off market transaction of 162.80 million rupees changing hands at 37.00 rupees per share contributing 12 percent of the turnover.

The aggregate value of all off-the-floor deals represented 16 percent of the daily turnover.

Lanka Cement closed 1.90 rupees lower at 3.40 rupees and Lanka IOC closed 60 cents lower at 54.60 rupees, attracting most number of trades during the day.