Sri Lanka stocks close lower at 0.05-pct

May 18, 2015 (LBO) – Sri Lanka’s stocks closed lower at 0.05 percent with the prevailing political uncertainty affecting investor sentiment, brokers said.

The Colombo benchmark All Share Price Index closed 3.65 points lower at 7,255.02 down 0.05 percent. The S&P SL20 closed 11.94 points lower at 4,038.74 down 0.29 percent.

Turnover was 1.1 billion rupees down from 1.08 billion rupees on Friday, with 81 stocks closing positive against 115 negative.

Lanka Securities said, that there was a lack of investor activity seen in the days trading due to the prevailing political uncertainty in the county with a no-confidence motion to be taken up against the Prime Minister and Finance Minister in parliament this week.

“There was a bit of investor activity in the agriculture sectors livestock counters while banking stocks recording losses,”

“One crossing was recorded during the day’s trading in Distilleries Company,”

The market was dragged down by losses in Carson Cumberbatch closing at 402.20 rupees, down 9.80 rupees and Bukit Darah closing at 676.00 rupees, down 14.00 rupees.

Livestock counters closed on 52 week high with Grain Elevators closing at 50.50 rupees, up 10.50 rupees and Three Acre Farms closing at 61.20 rupees, up 5.30 rupees.

In the banking sector Hatton National Bank closed at 230.10 rupees, down 1.90 rupees Commercial Bank closed at 168.50 rupees, down 1.20 rupees.

DFCC closed at 216.00 rupees, down 2.50 rupees and National Development Bank closed at 266.00 rupees, down 0.10 rupees.

Distilleries Company closed at 290.00 rupees, up 5.00 rupees with a crossing of 100,000 shares at 288.00 rupees.

John Keells Holdings closed at 201.00 rupees, up 1.00 rupees.