Sri Lanka stocks close down 1.9-pct

Oct 13, 2014 (LBO) – Sri Lanka’s stocks closed 1.87 percent lower amid banking stocks losing ground with the central bank’s guidelines on tax incentives to promote financial sector consolidation, brokers said. Commercial Bank of Ceylon closed 9.90 rupees lower at 157.30 rupees and DFCC Bank closed 14.40 rupees lower at 215.40 rupees, contributing most to the index drop.

Hatton National Bank closed 8.00 rupees lower at 187.00 rupees and National Development Bank closed 12.40 rupees lower at 245.10 rupees.

Ceylon Tobacco Company closed 22.10 rupees higher at 1,147.00 rupees.

The Colombo benchmark All Share Price Index closed 136.78 points lower at 7,184.22, down 1.87 percent. The S&P SL20 closed 95.47 points lower at 4,014.55, down 2.32 percent.

Turnover was 1.97 billion rupees, down from 2.81 billion rupees last Friday with 23 stocks closed positive against 211 negative.

Chevron Lubricants Lanka closed 1.10 rupees lower at 340.00 rupees with three off-market transactions of 238.00 million rupees changing hands at 340.00 rupees per share contributing 12 percent of the turnover.

The aggregate value of all off-the-floor deals represented 22 percent of the daily turnover.

First Capital Holdings closed 5.60 rupees lower at 49.50 rupees and Access Engineering closed 1.10 rupees lower at 30.50 rupees, attracting most number of trades during the day.

Foreign investors bought 627.33 million rupees worth shares while selling 343.27 million rupees worth shares.