Sri Lanka stocks close up 0.5-pct

Oct 29, 2014 (LBO) – Sri Lanka’s stocks closed 0.54 percent higher with banking stocks gaining amid continued net foreign buying, brokers said. Lanka IOC closed 2.80 rupees higher at 51.80 rupees and Lanka Orix Leasing Company closed 2.80 rupees higher at 90.00 rupees, contributing most to the index gain.

Hatton National Bank closed 4.00 rupees higher at 194.50 rupees and DFCC Bank closed 3.90 rupees higher at 219.40 rupees.

Commercial Bank of Ceylon closed 1.20 rupees higher at 160.20 rupees and NDB closed 3.00 rupees lower at 240.00 rupees.

Ceylon Tobacco Company closed 9.00 rupees lower at 1,141.00 rupees.

Shareholders of E.B Creasy and Company has unanimously passed a resolution at an extraordinary general meeting held Wednesday to adopt a new ‘articles of association’ in place of the existing articles of association, the company said in a stock exchange filing. The Colombo benchmark All Share Price Index closed 38.78 points higher at 7,265.90, up 0.54 percent. The S&P SL20 closed 21.33 points higher at 4,029.43, up 0.53 percent.

Turnover was 2.20 billion rupees, up from 1.66 billion rupees a day earlier with 125 stocks closed positive against 54 negative.

People’s Leasing and Finance closed 50 cents higher at 21.30 rupees with nine off market transactions of 295.10 million rupees contributing 13 percent of the turnover.

John Keells Holdings closed 70 cents higher at 249.80 rupees with four off market transactions of 241.57 million rupees contributing 11 percent of the turnover.

The aggregate value of all off-the-floor deals represented 37 percent of the daily turnover.

ODEL closed 3.10 rupees higher at 27.20 rupees, attracting most number of trades during the day.

Foreign investors bought 963.15 million rupees worth shares while selling 382.98 million rupees worth shares.