Stocks close down 0.3-pct; seven week low

Sep 08, 2015 (LBO) – Sri Lankan stocks closed down 0.35 percent on Tuesday on a seven week low with the losses in John Keells Holdings, brokers said.

The Colombo benchmark All Share Price Index closed down 25.24 points at 7,122.46 lower 0.35 percent.

S&P SL20 closed 16.96 points lower at 3,914.04 down 0.43 percent.

Turnover was 430 million rupees, down from 599 million rupees, Tuesday with 49 stocks closing positive against 99 negative.

“The main index was dragged down mainly by JKH and the market witnessed a thin trading session where turnover hit 07 week low,” Lanka Securities said.

The main index showed losses in John Keells Holdings closing at 175.20 rupees down 2.10  rupees while the JKH warrants closed at 11.10 rupees, down 4.40 rupees.

Ceylon Tobacco Company closed at 970.00 rupees, down 5.00 rupees.

Banking stocks traded actively with Commercial Bank closing at 165.90 rupees, down 2.10 rupees and DFCC Bank closed down at 185.20 rupees, up 0.20 rupees. Hatton National Bank closed at 213.00 rupees, up 0.10 rupees.

Dialog Axiata closed at 11.10 rupees, down 0.10 rupees.

Foreign investors closed the day on the selling with a net foreign outflow of 34 million while foreign participation was 15 percent.

Net foreign outflows were seen in John Keells Holdings 29 million rupees, Seylan Bank 7 million rupees, ACL Cables 3 million rupees while net foreign inflow was mainly seen in Ceylon Tobacco 5 million rupees.

(UPDATED)