Sri Lanka stocks close flat

June 20, 2013 (LBO) – Sri Lanka’s stocks closed barely changed Thursday with the market showing marginal gains, helped by foreign buying in to a index heavy stock, brokers said.

The benchmark Colombo All Share Index closed 02.21 points higher at 6,211.44, a 0.04 percent gain and the S&P SL 20 Index closed 03.54 points lower at 3,492.14 down 0.10 percent.

Turnover was 3.4 billion rupees up from 343 million a day earlier.

Foreigners being net sellers contributed 84 percent for today’s turnover. They brought 2.8 billion rupees worth shares while selling 3 billion rupees in a day that 87 stocks advanced and 99 stocks declined.

John Keells Holdings contributed most to the index gain closing at 269.50 rupees up 4.50 rupees helped by a crossing of 10 million shares at 265.00 rupees per share raising 2.7 billion rupees.

Brokers speculates that the JKH share transaction between two foreign parties occurred amid reports the company is to sign a 640 million US dollar deal to establish an integrated hotel complex in the capital of Colombo.

Colombo Cold Stores closed at 174.80 rupees up 14.80 rupees and Trans Asia Hotels gained 3.20 rupees to close at 83.20 rupees.

Negative contributors included Dialog Axiata losing 10 cents to close at 8.70 rupees, Carsons Cumberbatch closed at 440.70 rupees down by 3.30 rupees following a crossing 200,000 shares at 445.00 rupees per share and Asia Hotel & Properties lost 1.40 rupees to close at 72.00 rupees.

Pan Asia closed at 19.30 rupees down 20 cents. Union Bank of Colombo closed flat at 18.00 rupees and Sampath Bank closed at 208.10 rupees down 2.50 rupees and

Commercial Bank of Ceylon lost 40 cents to close at 115.80 rupees following a crossing of 2.7 million shares at 115 rupees per share.

Nestle Lanka gained 6.40 rupees to close at 1911.10 rupees and Chevron Lubricants Lanka gained 2.60 rupees to close at 292.00 rupees

Distilleries Company crossed 150,000 shares at 193 rupees a share to close at 192.90 rupees down 10 cents, The Lions Brewery closed at 399.00 rupees down by 1.00 rupee and Ceylon Tobacco Company closed at 1007.00 rupees up 1.80 rupees.