Sri Lanka stocks close down 0.08-pct

Redbulls · 1 Sri Lanka stocks close down 0.08-pct Wed Sep 18, 2013 5:08 pm

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Sept 18, 2013 (LBO) - Sri Lanka stocks extended losses Wednesday closing 0.08 percent lower despite foreign buying, brokers said.

The market fell 0.33 percent on Monday and 0.58 percent on Tuesday.

The benchmark Colombo All Share Price Index closed 4.52 points lower at 5,700.74, down 0.08. The S&P SL20 closed 4.03 points lower at 3,157.87, down 0.13 percent.

Turnover was 700.12 million rupees in a day that 82 stocks gained and 75 firms lost ground.

Foreigners bought 561 million rupees of shares, while selling only 200 million rupees of shares.

Ceylon Tobacco Company, closed 32.4 rupees lower at 1,046.80 rupees and Nestle closed 25.1 rupees lower at 1,975 rupees.

Lion Brewery closed 10.60 rupees lower at 389.40 rupees and Distilleries was down 2.0 rupees to close at 178 rupees.

Sri Lanka Telecom closed 1.4 rupees higher at 39.90 rupees and Asian Hotels and Properties gained 3.20 rupees to close at 68.70.

JKH which featured in three off-market trades closed 20 cents higher at 212 rupees.
http://www.lankabusinessonline.com/news/sri-lanka-stocks-close-down-0.08-pct/1150851105

sriranga

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COLOMBO, Sept 18 (Reuters) - Sri Lankan stocks slipped for a third straight session on Wednesday, dragged down by shares of large caps such as Ceylon Tobacco Co PLC, a day after the central bank held key monetary policy rates steady.

Sri Lanka's central bank on Tuesday kept key policy rates unchanged and said the country has the potential to achieve its targeted 7.5 economic growth this year.

The main share index edged down 0.08 percent, or 4.52 points, to close at 5,700.74, its lowest close since Sept. 10.

Brokers said the market has been concerned about the outlook for interest rates after an expensive borrowing by state-owned National Savings Bank.

Large cap companies suffered, with Ceylon Tobacco Co shares ending 3 percent down, while that of Nestle Lanka PLC dropping 1.25 percent.

Wednesday's turnover was 700.1 million rupees ($5.29 million), less than this year's daily average of about 882 million rupees.

Foreign investors were net buyers of 361.5 million rupees worth of shares on Wednesday, extending net foreign inflows in stocks so far this year to 18.99 billion rupees.

The stock and foreign exchange markets will be closed on Thursday for a Buddhist holiday.

($1 = 132.2500 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)

(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/2013/09/18/3553449.htm