Sri Lanka stocks close down 0.75-pct: Near eight month low

Nov 30, 2015 (LBO) – Sri Lankan stocks closed down at 0.75 percent on Monday for a fourth consecutive day, recording the highest intra-day drop since September and closed at nearly eight month low, brokers said.

The Colombo benchmark All Share Price Index closed down 52.26 points at 6,909.15 down 0.75 percent. S&P SL20 closed 46.35 points lower at 3,657.69 down 1.25 percent.

Turnover was 754 million rupees, lower than the daily average of 1.1 billion rupees with 31 stocks closing positive against 125 negative.

The main index showed losses in John Keells Holdings closing at 180.00 rupees, down 2.5 percent and Nestle Lanka closing at 2,100.00 rupees, down 3.5 percent. 

Active trading was seen in Commercial Bank closing at 140.00 rupees, DFCC Bank closing at 160.50 rupees, National Development Bank 193.50 rupees and Amana Bank 4.70 rupees declined to 52 week low prices.

Following the listing of right shares of Janashakthi Insurance, counter stepped to a 52 week low of 17.70 rupees and the company raised 3.4 billion rupees through rights issue to finance the acquisition of AIA General Insurance.

Meanwhile, Lanka Hospitals declared an interim dividend of 1.00 per share. However, stock closed lower at 59.90 rupees, down 0.3 percent. Ceylon Printers announced that the right issue of the company has been oversubscribed.

Foreign investors closed the session on buying side with a net foreign inflow of  34 million rupees and foreign participation was 59 percent.