Indices flat; Crossings in S&P players added 62% to turnover

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COLOMBO, July 18 (Reuters) - Sri Lankan shares recovered from a one-week closing low on Thursday, snapping a four-session losing streak, led by market heavyweight John Keells Holdings and on net foreign inflow.

But concerns over a falling rupee capped the appetite for the island nation's risky assets.

The main share index ended 0.05 percent, or 3.1 points, firmer at 5,985.45, recovering from its one-week closing low hit in the previous session.

Foreign investors bought net 349 million rupees ($2.65 million) in shares, extending the year-to-date offshore inflow to 16.84 billion rupees.

John Keells closed up 1.63 percent at 250 rupees.

Turnover was 665.2 million rupees ($5.05 million), bourse data showed, well below this year's daily average of around 962 million rupees.

The local currency hit a 10-month low in early trade due to importer demand for dollar.
($1 = 131.6000 Sri Lanka rupees)

(Reporting by Shihar Aneez and Ranga Sirilal; Editing by Subhranshu Sahu)
http://www.reuters.com/article/2013/07/18/markets-srilanka-idUSL4N0FO2EQ20130718

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WRITTEN BY THARANGA SENARATNE

July 18, 2013 (LBT) - Indices closed broadly flat: The benchmark index moved on a volatile path fluctuating between marginal gains and losses before closing broadly flat at 5,985.45 points. Gains in John Keells Holdings (+1.5%), Ceylon Tobacco Company (+0.9%) and Nestle Lanka (+1.5%) weighed positively on the index. The S&P SL20 index ended on a similar note closing broadly flat at 3,378.73 points.

9 crossings in S&P SL20 players added 62% to the turnover: John Keells Holdings spearheaded the day’s turnover supported by 5 off-board blocks accumulating to 912k shares which was transacted at LKR250.0. On-board activity in the counter depicted notable buying interest as it gained 1.6% at its intra-day high at LKR250.0 before closing at LKR249.7. Renewed activity in National Development Bank led two off-board blocks carrying c.350k shares which were transacted at LKR165.0 during early trading. The counter gained 1.2% at its close of LKR164.8. Aitken Spence saw 1 mn shares being crossed off via two blocks at LKR124.2 and LKR124.3. The three S&P SL20 players added 62% to the turnover via 9 crossings.

BFI sector added 29% to the turnover: Hatton National Bank Voting and Non-Voting gathered notable buying interest as each gained 1.8% and 3.0% at their respective intra-day high levels. Union Bank saw renewed interest with several mid-sized blocks which were transacted between LKR17.0 and LKR18.7. Chevron Lubricants sustained interest as it gained 0.9% at its close of LKR315.8.

Retail interest on a moderate note: Retailer participation was relatively improved with interest on a selected few. Touchwood Investments, Union Bank, Access Engineering and PC House denoted notable activity.
http://lbt.lk/stock-market

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Indices flat; Crossings in S&P players added 62% to turnover

1 Sri Lanka stocks recover from 1-wk low on Keells, inflows Thu Jul 18, 2013 5:21 pm

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