Sri Lanka stocks close down 0.1-pct at three-month low

Oct 15, 2015 (LBO) – Sri Lankan stocks closed down on Thursday for a third consecutive day with economic and budget concerns keeping investors away, brokers said.

The Colombo benchmark All Share Price Index closed down 9.87 points at 7,030.45 down 0.14 percent. S&P SL20 closed 1.96 points lower at 3,783.13 lower 0.0.05 percent.

“Lack of policy direction and economic concerns are keeping investors away,” Lanka Securities said.

Turnover was 825 million rupees, up from 725 million on Wednesday with 48 stocks closing positive against 101 negative.

The main index was dragged down by losses in Ceylon Brewery closing at 801.00 rupees, down 59.00 rupees and Dialog Axaita closing at 11.00 rupees, down 0.10 rupees with over 22 million shares traded including 5 off the floor trades at 11.00 rupees.

Investor interest was also seen in Colombo City Holdings with the stock closing at 845.10 rupees, up 147.10 rupees after the stock hitting a 52 week high of  930.00 rupees.

Foreign investors continued to be net buyers with a net foreign inflow of 206 million rupees and foreign participation was 17 percent.

Net foreign inflows were seen in Dialog Axiata, Seylan Bank non-voting, Hatton National Bank non-voting while net foreign outflow was mainly seen in Softlogic Holdings.