Sri Lanka stocks close up 0.3-pct; Low investor activity

Jan 29, 2016 (LBO) – Sri Lankan stocks closed up 0.32 percent in anticipation of positive earrings and attractive Price Earrings levels with gains in banking stocks, brokers said.

The Colombo benchmark All Share Price Index closed up 20.16 points at 6,340.05 up 0.32 percent. S&P SL20 closed 22.24 points up at 3,302.01 up 0.68 percent.

Turnover was at 387 million rupees, with 107 stocks closing positive against 31 negative.

“There was low local and foreign investor participation but interest was seen in the banking sector,” SC Securities said.

The main index showed gains in Nestle Lanka with the stock closing at 48.70 rupees, up 2.44 rupees and Hemas Holdings closed at 84.40 rupees, up 3.90 rupees.

Distilleries Company closed at 217.90 rupees, up 6.00 rupees.

Active trading was seen in Banking with Commercial Bank closing at 127.10 rupees, up 0.10 rupees and Hatton National Bank closed at 196.80 rupees, up 0.60 rupees.

Sampath Bank closed at 238.50 rupees, up 0.40 rupees.

Foreign purchases amounted to 54.7 million rupees while foreign sales amounted to 89.3 million rupees  resulting in a net foreign outflow of 34.5 million rupees.