Sri Lanka stocks close up 0.18-pct

May 10, 2013 (LBO) – Sri Lanka’s stocks closed up 0.18 percent on Friday helped by retail and institutional buying, brokers said. The benchmark Colombo All Share Index closed 11.29 points higher at 6,250.00 up 0.18 percent and the S&P SL 20 Index closed 04.39 points higher at 3,530.90 up 0.12 percent.

Turnover was 1.4 billion rupees down from 1.5 billion rupees a day earlier.

Foreign buying rose from 194 million a day earlier to 284 million rupees on Friday due to a policy interest rate cut announcement by the Central Bank of Sri Lanka, brokers said.

The Central Bank of Sri Lanka reduced the policy interest rate by 50 basis points to 7.0 and 9.0 percent to boost credit.

Top foreign inflow were recorded in Distilleries, HNB and John Keels Holdings.

Top contributors were Dialog Axiata which gained 20 cents to close at 9.60 rupees, Distilleries Company of Sri Lanka gained 4.00 rupees to close 185.20 rupees and Trans Asia Hotels closed at 81.00 rupees up 4.00 rupees.

Hatton National Bank closed at 170.80 rupees down 90 cents, DFCC Bank gained 40 cents to close at 152.40 rupees, Commercial Bank of Ceylon closed 118.00 rupees down 50 cents and National Development Bank closed at 179.20 rupees down 80 cents.

Pan Asia closed at 22.40 rupees up 30 cents. Union Bank of Colombo closed at 19.50 rupees up 50 cents.

LB Finance closed at 138.90 rupees up 1.10 rupees, Peoples Leasing and Finance lost 30 cents to close at 15.10 rupees and Commercial Leasing and Finance closed flat at 4.70 rupees.

The Lion Brewery Ceylon closed at 370.10 rupees up 10 cents.

Ceylon Tobacco Company gained 3.50 rupees to close at 829.50 rupees.

Nestle Lanka closed at 1850.60 rupees down 1.60 rupees.

Aitken Spence closed at 136.00 down 0.10 cents. Browns Investments closed flat at 3.60 rupees.

Index heavy John Keells Holdings closed at 268.30 rupees up 80 cents, Softlogic Holding gained 40 cents to close at 12.00 rupees.

Hayleys closed flat at 300.20 rupees up 20 cents and Vallibel One closed at 20.60 rupees down by 10 cents.

Lanka Ceramic closed at 115.60 rupees up 10 cents, Royal Ceramic gained 2.00 rupees to close at 110.40 rupees, Lanka Wall Tiles closed at 73.00 rupees up 1.20 rupees and Lanka Floor Tiles gained 1.20 rupees to close at 73.60 rupees.

Asiri Hospital Holdings gained 10 cents to close at 15.60 rupees, Nawaloka Hospital gained 10 cents to close at 3.50 rupees and The Lanka Hospital Corporation closed at 44.60 rupees up 70 cents.

Sri Lanka Telecom gained 40 cents to close at 42.90.