Sri Lanka stocks down 0.4-pct, rupee up

Oct 23, 2013 (LBO) – Sri Lanka stocks continued to sustain losses closing down 0.41 percent with the rupee gaining against the US dollar on export conversions and foreign inflows into the debt and equities market, dealers said. The benchmark Colombo All Share Price Index fell 24.32 points to 5,900.90, down 0.41 percent, after peaking at an intraday high of 5,930.96.

The S&P SL20 closed 7.50 points lower at 3,265.08, down 0.23 percent.

Turnover amounted to 481.31 million rupees, down from 983.09 million a day earlier, with shares of 109 firms losing against 45 gainers.

Foreigner bought shares worth 147.08 million rupees, down from 492.29 million rupees a day ago, and sold shares worth 114.5 million rupees, down from 265.30 million rupees a day earlier.

Carson Cumberbatch closed 10.20 rupees lower at 380.20 rupees and Sri Lanka Telecom closed 90 cents lower at 38.90 rupees.

Asia Hotels and Properties closed 2.20 rupees lower at 70.80 rupees and Nestle Lanka closed 16.00 rupees lower at 1,959.20 rupees.

Finlays closed 20.80 rupees lower at 250.20 rupees.

LOLC closed 1.20 rupees higher at 60.00 rupees and Shalimar closed 69.80 rupees higher at 951.00 rupees.

Ceylinco Insurance closed 23.90 rupees higher at 1,275.00 rupees and Chevron Lubricants Lanka closed 2.40 rupees higher at 272.40 rupees.

Lion Brewery closed 3.50 rupees higher at 360.00 rupees.

JKH closed 10 cents higher at 213.60 rupees featured in two crossings and JKH Rights closed 2.00 rupees higher at 51.50 rupees.

Dialog closed flat at 8.80 rupees with more than 5.8 million shares changing hands, with 5.7 million of these shares via a single crossing.

Union Bank closed 50 cents lower at 16.20 rupees with more than 3 million shares traded.

Commercial Bank closed 50 cents lower at 117.50 rupees and NDB Bank closed 90 cents lower at 153.00 rupees. Sampath Bank closed flat at 175.70 rupees.

Speculative trading continued in troubled Touchwood, closing flat at 4.40 rupees with more than 1.67 million shares traded.

PCH Holdings closed flat at 1.50 rupees with more than 2.8 million shares changing hands.

The Sri Lanka rupee strengthened to 130.72/75 against the US dollar in late trading in the spot market Wednesday, after opening at 130.85/90 on export conversions, foreign inflows to the debt and equities market, dealers said.

A liquid five year Treasury bond was trading in narrow band at 11.05/08 percent after opening at 11.05/16 percent.