Sri Lanka stocks down 0.5-pct, rupee steady

July 12, 2013 (LBO) – Sri Lanka’s stocks closed down 0.55 percent Friday following two consecutive days of gains with large cap stocks making losses, brokers said.

Ceylon Tobacco Company closed at 1,000.00 rupees up 2.70 rupees. The benchmark Colombo All Share Index closed 33.64 points higher at 6,028.74 down 0.55 percent and the S&P SL 20 Index closed 7.47 points lower at 3,385.43 down 0.22 percent.

Turnover was 328 million rupees up from 241
million from a day earlier.

Sri Lanka’s forex markets saw firm quotes for the spot US dollar at around 130.85/131.00 though trading was still active for spot-next deals where settlement is made three days ahead, dealers said.

Excess liquidity in the interbank market (the aggregate clearing balance) dropped to 25.2 billion rupees on Friday from 32 billion rupees a week earlier amid steady unsterilized sales of foreign exchange by the Central Bank.

In equity markets foreigners brought 63 million rupees worth shares while selling 20 million rupees in a day that 50 stocks advanced and 128 stocks declined.

Dialog Axiata contributed most to the index closing at 8.80 rupees up 10 cents. Sampath Bank closed at 198.00 rupees up 3.40 rupees and Commercial Bank closed at 115.00 rupees up 2.70 rupees.

Negative contributors were John Keells Holdings closing at 249.90 rupees down 3.40 rupees and Sri Lanka Telecom closed at 39.50 down 2.30 rupees. Distilleries Company closed at 188.00 rupees down 4.00 rupees.

In the banking sector, Hatton National Bank closed at 156.00 rupees down 80 cents and DFCC closed at 129.90 rupees down 1.40 rupees.