Sri Lanka stocks close down 0.2-pct

sriranga · 1 Sri Lankan stocks end at 7-week low ahead of budget Tue Nov 19, 2013 6:08 pm

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COLOMBO, Nov 19 (Reuters) - Sri Lankan stocks fell to a seven-week closing low on Tuesday led by large-cap Ceylon Tobacco Company PLC as investors awaited directions from the 2014 budget, which will be presented later this week.

The main stock index closed 0.26 percent, or 15.33 points, weaker at 5,809.15, its lowest level since Oct. 2.

President Mahinda Rajapaksa, who is also the country's finance minister, is to present the 2014 budget proposals on Thursday.

Shares in Ceylon Tobacco Company PLC fell 0.89 percent to 1,060.00 rupees, but trading volume was very thin.

'The market is expecting an increase in taxes because the government revenue is lower,' a stockbroker said on condition of anonymity.

The bourse has been sluggish due to concerns over a drop in September-quarter earnings. Many listed firms are expected to release their quarterly earnings this month.

The day's turnover was 603.24 million rupees ($4.60 million), lower than this year's daily average of 857.2 million rupees.

Foreign investors were net buyers of 264.5 million rupees of shares on Tuesday, extending the year-to-date net foreign inflow to 22.88 billion rupees worth of shares.

($1 = 131.1500 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair)

(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/2013/11/19/3670277.htm

Redbulls · 2 Sri Lanka stocks close down 0.2-pct Tue Nov 19, 2013 6:08 pm

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Nov 19, 2013 (LBO) - Sri Lanka stocks closed lower with tobacco and plantation stocks losing ground despite strong foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 15.33 points lower at 5,809.15, down 0.26 percent. The S&P SL20 closed 13.62 points higher at 3,213.93, up 0.43 percent.

Turnover was 603.23 million rupees, down from 936.44 million rupees a day earlier, with stocks of 108 firms closing in the red against 54 gainers.

HNB closed 50 cents higher at 145.00 rupees with a 213 million rupee off market transaction contributing to 35 percent of total turnover.

Foreigners brought 449 million rupees worth shares while selling 185 million rupees of shares.

Ceylon Tobacco Company closed 9.50 rupees lower at 1,060.00 rupees and The Good Hope closed 244.70 rupees lower at 1,030.30 rupees, contributing most to the index drop.

Commercial Leasing and Finance closed 20 cents lower at 3.90 rupees and Sri Lanka Telecom closed 50 cents lower at 38.20 rupees. JKH closed 3.30 rupees higher at 217.80 rupees.

JKH’s W0022 warrants closed 1.30 rupees higher at 60.90 rupees and JKH’s W0023 warrants closed 1.20 rupees higher at 65.20 rupees.

Nestle Lanka closed 31.80 rupees higher at 1,900.00 rupees and Commercial Bank closed 40 cents higher at 114.80 rupees.

NDB closed 1.50 rupees higher at 151.50 rupees and Hayleys closed 3.20 rupees higher at 293.30 rupees.

Carson Cumberbatch closed 10 cents higher at 380.10 rupees and Sampath Bank closed 10 cents higher at 166.00 rupees.

Dialog closed flat at 9.00 rupees and Ceylinco Insurance closed flat at 1,300.00 rupees. Lanka Orix Leasing Company closed flat at 63.50 rupees and DFCC closed flat at 120.00 rupees.

Aitken Spence closed 50 cents higher at 112.50 rupees and Asian Hotels and Properties closed flat at 69.80 rupees.

Bukit Darah closed flat at 675.00 rupees and Cargills Ceylon closed flat at 150.00 rupees. Distilleries closed 30 cents higher at 187.00 rupees and Touchwood closed 20 cents lower at 2.90 rupees.
http://www.lankabusinessonline.com/news/sri-lanka-stocks-close-down-0.2-pct/2019330874