Sri Lanka stocks close lower

Sep 01, 2014 (LBO) – Sri Lanka’s stocks close lower Monday, reversing the gains of tobacco and beverage stocks amid low foreign participation, brokers said.

The Colombo benchmark All Share Price Index closed 3.20 points lower at 7,030.89, down 0.05 percent. The S&P SL20 closed 4.88 points higher at 3,877.39, up 0.13 percent.

Turnover was 1.04 billion rupees, down from 1.14 billion rupees last Friday with 95 stocks closed positive against 95 negative.

Seylan Bank closed 10 cents lower at 83.80 rupees with an off-market transaction of 400.00 million rupees changing hands at 80.00 rupees per share contributing 38 percent of the daily turnover.

Union Bank of Colombo closed 10 cents higher at 21.00 rupees and Sanasa Development Bank closed 3.00 rupees higher at 106.50 rupees, attracting most number of trades during the day.

Foreign investors bought 102.77 million rupees worth shares while selling 67.82 million rupees worth shares.

Ceylon Tobacco Company closed 17.20 rupees lower at 1,180.00 rupees and Nestle Lanka closed 48.00 rupees lower at 2,100.00 rupees, contributing most to the index drop.

Commercial Bank of Ceylon closed flat at 148.00 rupees with the company acquiring the entirety of the ordinary shares of Indra Finance for a purchase consideration of 870 million rupees.

Laugfs Maritime Services (pvt) ltd, a fully owned subsidiary of Laugfs Gas is to purchase a liquid petroleum gas vessel with an investment of 6.9 million US dollars, the company said in a stock exchange filing.