Sri Lanka stocks close down despite T-Bill yield drop and dividend announcements

May 27, 2015 (LBO) – Sri Lanka’s stocks closed lower for a third consecutive day despite a Treasury bill rate drop with investors taking profits, brokers said.

The Colombo benchmark All Share Price Index closed 8.28 points lower at 7,253.50 down 0.11 percent.

The S&P SL20 closed 6.95 points lower at 4,030.86 down 0.17 percent.

Turnover was 1.48 billion rupees up from 1.18 billion rupees on Tuesday, with 75 stocks closing positive against 114 negative.

“Active trading was seen in the banking sector stocks with several crossings recorded,” Lanka Securities said.

“Investors continued to take profits from the market despite the several dividend announcements.”

The market was dragged down by Hemas Holdings closing at 79.70 down, 2.90 rupees and Ceylon Beverage Holdings closing at 860.00 rupees, down 65.00 rupees.

The top contributors to turnover were the banking sector, Commercial Bank closing at 165.10 rupees, down 0.10 rupees with four separate off the floor trades of 1.5 million shares at 164.00 rupees.

Hatton National Bank closed flat at 230.00 rupees and DFCC closed at 210.00 rupees, down 1.90 rupees.
National Development Bank closed at 275.00 rupees, down 1.00 rupees.
(UPDATED)