Bourse up 0.46%

sriranga

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COLOMBO, Aug 27 (Reuters) - Sri Lankan stocks recovered from their lowest level in more than four months on Tuesday as investors picked up large cap shares such as Ceylon Tobacco Company Plc and Nestle Lanka Plc, but foreign outflows continued for the fourth day.

The main share index ended up 0.47 percent, or 27.69 points, at 5,923.34, edging up from its lowest close since April 22.

However, analysts said investors were cautious over a fall in the rupee and a weak earnings outlook. The local currency hit a one-year low on Tuesday due to importer dollar demand and renewed selling of government bonds by foreign investors.

Shares in Ceylon Tobacco Company Plc rose 8.98 percent to 1207.50 rupees, while Nestle Lanka Plc ended 6.95 percent up at 2,176.40 rupees.

Foreign investors were net sellers for a fourth straight session, selling 96.3 million rupees ($725,600) worth of shares, extending net outflows to 360 million rupees in the last four sessions.

However, they have been net buyers of 18.16 billion rupees worth of shares so far this year.

The turnover was 503.2 million rupees, well below this year's daily average of about 913.9 million rupees.

($1 = 132.7100 Sri Lanka rupees)

(Reporting by Ranga Sirilal; Editing by Jijo Jacob)

(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/2013/08/27/3515425.htm

Redbulls · 2 Bourse up 0.46% Wed Aug 28, 2013 2:07 am

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The Colombo bourse closed in positive territory on Tuesday (27) with the All Share Price Index closing 27.69 points higher at 5,923.34, gaining 0.46 percent.

The S&P SL20 closed 8.30 points lower, down 0.24 percent to 3,319.33.

Turnover amounted to Rs. 503.31 million with a net foreign outflow of Rs. 96.31 million.

Crossings involving JKH, DIST and CERA were seen during the day.

The day’s top performers included SEMB, CLPL, PCP and JFIN while ASCO, CITH, PCH and PCHH were the top losers.

"The ASPI recovered from intraday losses during the latter hours of trading, helped by healthy gains on consumer stocks. Activity levels improved moderately and were dominated by trades on JKH, which accounted for over 35% of market turnover inclusive of crossings. The market also saw crossings on DIST and CERA," John Keells Stockbrokers said.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=86734