Sri Lanka stocks close flat after polls: 30 week high

Aug 19, 2015 (LBO) – Sri Lankan stocks closed flat on Wednesday after parliamentary elections results were announced with the ruling United National Party plegding to form a national government, brokers said.

The Colombo benchmark All Share Price Index closed flat at 7,498.78 and the S&P SL20 closed 6.60 points higher at 4,164.31 up 0.16 percent.

Turnover was 2.3 billion rupees, up from 1.6 billion rupees, on Tuesday with 82 stocks closing positive against 85 negative.

“Colombo equities continued the positive vibes after the general election and the benchmark index tapped the 30 week high,” Lanka Securities said.

The main index showed gains in Cargills Ceylon, closing at 184.40 rupees, up 9.20 rupees, and Bukit Darah closing at 670.50 rupees, up 20.50 rupees.

John Keells Holdings closed at 191.00 rupees, up 0.60 rupees. One off the floor trade was recorded in the stock with 1.7 million shares traded between 190.50-191.00 rupees.

Banking and diversified counters were active. Commercial Bank closed at 174.60 rupees, down 0.10 rupees and DFCC Bank
closed at 198.30 rupees, down 0.40 rupees.

Dialog Axiata closed flat at 11.90 rupees with over 7 million shares traded.

Foreign investors were net sellers for the second consecutive day with a net foreign outflow of 61 million. Foreign participation was 33 percent.

Net foreign outflow was mainly seen in Laugfs Gas – non voting 37 million, Access Engineering 18 million and Sampath Bank 16 million while net foreign inflow was mainly seen in Sierra Cables 44 million.