Sri Lanka stocks down 1.2-pct, rupee weaker

June 13, 2013 (LBO) – Sri Lanka’s stocks closed down 1.22 percent on Thursday for third straight day and the rupee closed lower touching 128 to the dollar, amid turmoil in global markets, dealers and brokers said.

Distilleries Company lost 60 cents to close at 194.40 rupees, The Lion Brewery closed at 385.00 down 50 cents and Ceylon Tobacco Company closed at 952.20 rupees down 23.80 rupees.

John Keells Holdings lost 6.50 rupees to close at 267.00 rupees and Nestle Lanka lost 5.30 rupees to close at 1978.20 rupees. The benchmark Colombo All Share Index closed 76.89 points lower at 6,207.87 and the S&P SL 20 Index closed 52.3 2points lower at 3,499.09 down 1.47 percent.

Turnover was 480 million rupees down from 566 million day earlier.
Foreigners brought 67 million rupees worth shares while selling 24 million rupees of shares, in a day that 46 stocks advanced and 147 stocks declined.

The spot US dollar closed at 127.97/128.05 to the US dollar, near three month low, dealers said.

There had been some profit taking in Treasuries by foreign investors said. In many Asian markets foreign investors have cut their positions, leading to currency weakness.

Indonesia made a surprise rate hike Thursday, to shore up the rupiah.

In equity markets Ceylon Cold Stores contributed most to the index gain closing at165.00 rupees up 6.20 rupees. Overseas Realty closed at 18.70 rupees up 30 cents and N D B Capital gained 7.40 rupee to close at 488.00 rupees
DFCC Bank closed at 140.70 rupees down 2.60 rupeess and National Development Bank closed at 167.70 rupees down 4.70 rupees.

Pan Asia closed at 19.90 rupees down 10 cents. Union Bank of Colombo closed at 18.90 rupees down 10 cents and Sampath Bank close at 213.00 rupees down 2 rupees. Commercial Bank Of Ceylon lost 1.50 rupees to close at 96.00 rupees.