Sri Lanka stocks close higher 0.03-pct

May 28, 2015 (LBO) – Sri Lanka’s stocks closed higher 0.03 percent with foreigners continuing to be net sellers for a third consecutive day, brokers said.

The Colombo benchmark All Share Price Index closed 2.21 points higher at 7,255.71 up 0.03 percent.

The S&P SL20 closed 4.18 points higher at 4,035.04 up 0.10 percent.

Turnover was 1.38 billion rupees down from 1.48 billion rupees on Wednesday, with 75 stocks closing positive against 111 negative.

“Foreign investors continued to be net sellers for the third consecutive day with a net outflow of 451 million rupees,” Lanka Securities said.

“Foreign participation increased to 36 percent while net foreign outflows were mainly seen in Commercial Bank (Rs382mn), Union Bank (Rs84mn) and John Keells Holdings (Rs56mn),”

“Top net inflow was seen in Hatton National Bank (Rs52mn).”

Top contributor to turnover was Commercial Bank closing at 165.90 rupees, up 0.80 rupees with six separate off the floor trade of 2 million shares.

DFCC closed at 209.00 rupees, down 0.50 rupees.