Bourse struggles to surpass the 6,500 mark

Redbulls · 1 Sri Lanka stocks close down 0.6 pct Mon May 27, 2013 5:31 pm

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May 27, 2013 (LBO) - Sri Lanka's stock closed down 0.65 percent on Monday with profit taking by retail investors, brokers said.

The benchmark Colombo All Share Index closed 42. 31 points lower at 6,446.54 and the S&P SL 20 Index closed down 24.13 points at 3,641.91 down 0.06 percent.

Turnover was 696 million rupees, up from 556 million on last week Thursday the market closed early for a Bhuddhist religious festival Vesak.

Foreigners brought 159 million rupees worth shares while selling 46 million rupees of shares, in a day that 67 stocks advanced and 140 stocks declined.

Chevron Lubricants Lanka contributed most to the index gain closing at 314.70 rupees up 14.40 rupees. Ceylon Tobacco Company extended gains to close at 960.00 rupees up 8.50 rupees and C T Holdings closed at 153.00 rupees up 02.60 rupees.

In Banking sector, Hatton National Bank closed at 168.00 rupees down 2.00 rupees, DFCC Bank closed at 146.00 rupees down 2.00 rupees and National Development Bank closed at 174.10 rupees down 01.00 rupees

Commercial Bank of Ceylon closed at 122.50 rupees down 1.40 rupees, Pan Asia closed flat at 21.00 rupees. Union Bank of Colombo closed at 19.50 rupees down 30 cents and Sampath Bank lost 1.40 rupees to close at 223.40 rupees.

The Lion Brewery, lost 01.00 rupee to close at 425.00 and Distilleries Company of Sri Lanka gained 10 cents to close at 200.00 rupees.

Index John Keells Holdings lost 4.90 rupees to close at 288.90 rupees and Nestle Lanka lost 21.10 rupees to close at 2016.40 rupees.
http://www.lankabusinessonline.com/news/sri-lanka-stocks-close-down-0.6-pct/70951786

sriranga

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COLOMBO, May 27 (Reuters) - Sri Lankan shares fell on Monday from a 19-month high as investors booked profits in light volume and lacklustre blue-chips trade while the rupee currency ended weaker on importer dollar demand.

The main stock index eased 0.65 percent, or 42.31 points, to close at 6,446.54, slipping from its highest close since Oct. 14, 2011.

'The market came down on lacklustre trade with some profit taking in blue chips,' said a stock broker who declined to be identified.

Foreign investors were net buyers of shares worth of 113.2 million rupees, extending net foreign inflows this year to 13.2 billion rupees.

Turnover was 697 million rupees ($5.52 million), compared with this year's daily average of 1.04 billion rupees.

The rupee ended weaker at 126.38/40 per dollar from Thursday's close of 126.30/35 on importer dollar demand, dealers said.

The stock and currency markets were shut on Friday for a Buddhist religious holiday.

($1 = 126.3500 rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Robert Birsel)

(ranga.sirilal@thomsonreuters.com)(+94-11-232-5540)

(Reuters Messaging ranga.sirilal.thomsonreuters.com@reuters.net)(twitter.com/rangab a)
http://www.xe.com/news/2013/05/27/3370917.htm?c=1&t=

CSE.SAS · 3 Bourse struggles to surpass the 6,500 mark Mon May 27, 2013 7:56 pm

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WRITTEN BY THARANGA SENARATNE

May 27, 2013 (LBT) - Indices dipped amidst selling pressure: The benchmark index traced a similar trend to its previous sessions as it crossed the 6,500 mark during early trading while selling pressure weighed on investor sentiment leading the index to close 42 points down from an intra-day high of 6,528.11 points. Losses made in John Keells Holdings (-1.7%), Dialog Axiata (-3.1%), Nestle Lanka (-1.0%) and Commercial Bank (-1.1%) were the major negative contributors to the index. The S&P SL20 index followed a similar pattern as it dipped 24 points at its close denoting losses in heavyweights.

Diversified sector led the bourse with continued interest in JKH: Investors continued to focus on John Keells Holdings however on-board interest weighed largely on the selling side as it dipped 1.7% at its close of LKR288.9. The counter saw an off-board block of 103k shares which was transacted at LKR290.0. S&P players; Carsons Cumberbatch and Distilleries highlighted the crossings board with one block each at LKR435.0 and LKR205.0 respectively. The latter touched a new 52-week high of LKR207.0 (+3.6%) on thin volume before closing with a marginal gain at LKR200.0. Interest in Overseas Realty persisted as it continued to trade at a 52-week high of LKR20.9 while a block of 1 mn shares in the counter was crossed off at LKR20.0.

Heavy interest in Laugfs Gas Voting & Non-Voting: Notable interest was seen in Laugfs Gas Voting and Non-Voting. The latter trades at a trailing PER of 7.3x at current price, below its sector PER of 9.8x. Chevron Lubricants Lanka continued to attract buying interest with its price appreciating 4.8% at its close of LKR314.7. Renewed interest was seen in Environmental Resources Investments as a block of c.4.2 mn shares was transacted on-board at LKR16.8. Main focus of the BFI sector surrounded National Development Bank which traded between LKR174.0 and LKR176.0. Retail activity at a moderate pace: Retailers continued to be watchful amidst the downtrend of indices however notable interest was seen in Environmental Resources Investments, Laugfs Gas Voting and Non-Voting and Overseas Realty.
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