Sri Lanka stocks close flat

Redbulls · 1 Sri Lanka stocks close flat Mon Jun 17, 2013 5:15 pm

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June 17, 2013 (LBO) - Sri Lanka's stocks closed flat Monday, due to index heavy stocks continuing to drop and profit taking by some investors, brokers said.

The benchmark Colombo All Share Index closed 0.28 points lower at 6,219.11 and the S&P SL 20 Index closed 7.56 points lower at 3,496.79 lower at 0.22 percent.

Turnover was 310 million rupees down from 577 million on last week Friday.

Foreigners brought 146 million rupees worth shares while selling 55 million rupees of shares, in a day that 77stocks advanced and 104 stocks declined.

Ceylon Tobacco Company contributed most to the index closing at 990.00 rupees up 10,20 rupees helped by a crossing of 25,000 shares at 1000 rupees.

The Lion Brewery Ceylon closed at 399.90 rupees up 12.50 rupee and Carsons Cumberbatch gained 6.00 rupees to close at 444.00 rupees.

Negative contributors included John Keells Holdings which lost 1.40 rupees to close at 264.20 rupees, Chevron Lubricants Lanka lost 8.20 rupees to close at 285.00 rupees and Distilleries Company gained 60 cents to close at 195.00 rupees.

Distilleries Company closed at 193.00 down 2.00 rupees with a crossing of 200,000 shares at 195 rupees.

Pan Asia closed at 19.90 rupees down 30 cents. Union Bank of Colombo closed at 18.20 rupees down 70 cents and Sampath Bank closed at 211.80 rupees up 60 cents. Commercial Bank of Ceylon lost 0.30 rupees to close at 116.40 rupees.

Nestle Lanka gained 8.40 rupees to close at 1928.60 rupees and Dialog Axiata closed flat at 8.80 rupees.
http://www.lankabusinessonline.com/news/sri-lanka-stocks-close-flat/1560520164

sriranga · 2 Bourse closes flat, turnover dips Mon Jun 17, 2013 10:51 pm

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The Colombo bourse closed flat on Monday (17) with the manufacturing and real estate sectors falling the sharpest during the day.

The All Share Price Index lost 0.28 points to close at 6,219.11 while the S&P SL20 closed 7.56 points lower, down 0.22 percent, to 3,496.79.

Turnover dipped to Rs. 310.13 million from Rs. 577.23 million last Friday.

Foreign purchases amounted to Rs. 146.17 million, resulting in a net inflow of Rs. 90.44 million.

"The ASPI gave back modest intraday gains during the last hour of trading to end flat, amid low activity levels dominated by trades on JKH and consumer stocks. CTC, DIST and JKH collectively accounted for roughly 45% of market turnover, inclusive of crossings," John Keells Stockbrokers said.

DIST closed 1.03 percent lower at Rs. 990 and JKH slumped 0.53 percent to Rs. 264.20. CTC closed at Rs. 990, 1.04 percent higher.

The beverages, food and tobacco sub index was the only gainer up by 1.14 percent accounting for 37.64 percent of the day’s turnover.

Banks, finance and insurance sector fell 0.32 percent during the day, contributing 24.76 percent to turnover.

Manufacturing fell 0.94 percent and real estate fell by 1.58 percent contributing 6.56 percent and 2.98 percent to the day’s turnover respectively.

"Gainers matched losers with Tea Smallholder, PC Pharma and Ceylon Beverage rising by 20.4%, 16.7% and 14.1% and offsetting losses in Hayleys Fibre, Softlogic Finance and Bimputh Finance which fell by 15.5%, 11.6% and 8.7% respectively," DNH Financial said.

"With both buyers and sellers largely sitting in the wings, we expect market activity to remain relatively restrained in the near term. However we expect momentum to gather steam in the medium to longer term with a break to the upside from the relatively sideways flag that we have been experiencing so far. Consequently, we view the current market environment as an opportunity for investors to clean their books, re-align their portfolios and reposition themselves with a flight to quality. We consequently advise investors to break away from the herd, maintain a healthy investment horizon and focus on companies that will deliver quality earnings despite still high interest rates," DNH Financial said.

The Colombo bourse, up nearly 10.21 percent year-to-date, continues to outperform the exchanges from the BRICS still in negative territory.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=81534