Sri Lanka stocks close up 2-pct

Aug 01, 2013 (LBO) - Sri Lanka's stocks closed up 1.98 percent Thursday following a week of losses with heavy activity in a plantation stock, some gains in the large cap stocks and banking stocks, brokers said.

The benchmark Colombo All Share Index closed 119.38 points higher at 6,156.50 and the S&P SL 20 Index closed 48.61 points higher at 3,477.57 up 1.42 percent.

Turnover was 1.5 billion rupees.

Foreigners brought 118 million rupees worth shares while selling 622 million rupees of shares, in a day that 141 stocks advanced and 53 stocks declined.

Ceylon Tobacco Company contributed most to the index closing at 1,200.80 rupees up 12.21 rupees. John Keels Holdings closed at 265.70 rupees up 5.30 rupees.

Ceylon Tobacco Company almost over took John Keells Holdings as the largest capital stock on the CSE during the days trading.

Negative contributors were Cargills Ceylon closing at 150.00 rupees down 5.00 rupees.

The Watawala Plantations stock attracted a lot of interest with 49 million shares traded and the stock closing at 11.70 rupees up 0.60 rupees. There were three crossings recorded in the stock one of 4,500,000at 14.00 rupees a second of 24,344,000 at 14.00 rupees and a third of 20,511,100 at 14.00 rupees.

In the banking sector, Hatton National Bank Non Voting closed at 110.80 up 0.70 rupees, Pan Asia closed at 18.00 up 0.30 rupees. DFCC closed at 129.60 up 1.40 rupees and Commercial Bank of Ceylon closed at 118.10 up 1.00.
http://www.lankabusinessonline.com/news/sri-lanka-stocks-close-up-2-pct/119358930

COLOMBO, Aug 1 (Reuters) - Sri Lankan shares jumped 1.98 percent on Thursday to hit a six-week high as investors bought stocks such as Ceylon Tobacco and John Keells Holdings, while block deals pushed the turnover to five-week high.

The main share index ended 1.98 percent, or 119.38 points, firmer at 6,156.60, its highest close since June 20.

Shares in Ceylon Tobacco Co Plc touched a lifetime high of 1,240 rupees on expectations the company would raise its cigarette prices by a higher amount to offset the recent hike in taxes. They closed at 1,200.80 rupees.

Sri Lanka increased some import taxes and excise duties on Thursday, a move analysts said is an attempt by the government to shore up its revenue base as a slowing economy and falling imports hamper its efforts to cut its budget deficit.


Shares in John Keells Holdings Plc rose 2.04 percent to 265.70 rupees.

Foreign investors were net sellers of 441.9 million rupees ($3.36 million) worth of shares, extending this week's net outflow to 1.09 billion rupees.
But they have been net buyers of 15.86 billion rupees of shares so far this year.

Analysts said despite the central bank's easing of policy measures, concerns over the weakening rupee and high lending rates had dented sentiment, even as investors waited for direction.

The turnover was 1.55 million rupees, the highest since June 26, well above this year's daily average of about 941.3 million rupees.
($1 = 131.5500 Sri Lanka rupees)

(Reporting by Ranga Sirilal; Editing by Anand Basu)
http://www.reuters.com/article/2013/08/01/markets-srilanka-idUSL4N0G22L020130801

another fake high cap bull.. ?