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Bourse slips from 8-week high despite inflows

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Sri Lanka stocks down 0.50-pct, rupee steady

Oct 21, 2013 (LBO) - Sri Lanka stocks closed 0.50 percent lower with heavy trading in diversified and banking stocks amidst speculative play, brokers said.

The benchmark Colombo All Share Price Index closed 29.86 points lower at 5,946.65, down 0.50 percent, after peaking at an intraday high of 5,979.23, provisional data showed.

The S&P SL20 closed 21.47 points lower at 3,287.53, down 0.65 percent.

Turnover amounted to 1.04 million rupees, up from 545.67 million rupees the previous day, with shares of 135 firms making losses against 47 gainers.

Foreigners bought shares worth 544.42 million rupees, up from 129.23 million the previous day, and sold shares worth 162.51 million rupees, up from 157.09 million the previous day.

JKH closed 3.30 rupees lower at 214.00 rupees with three crossings taking place and JKH rights closed 16.30 rupees lower at 45.20 rupees, featuring in a single crossing.

Aitken Spence Hotels closed 4.80 rupees lower at 66.70 rupees and CT Holdings closed 7.00 rupees lower at 150.00 rupees.

Lion Brewery closed 12.50 rupees lower at 356.50 rupees and Sri Lanka Telecom closed 50 cents lower at 39.30 rupees.

George Steuart Finance closed 94.90 rupees higher at 475.00 rupees and The Good Hope PLC closed 85.00 rupees higher at 1,275.00 rupees.

Carson Cumberbatch closed 2.70 rupees higher at 405.00 rupees and Nestle Lanka closed 6.00 rupees higher at 1,975.00 rupees.

Hatton National Bank closed flat at 150.00 rupees and featured in two crossings and Commercial Bank closed 90 cents lower at 118.00 rupees.

Sampath Bank closed flat at 177.00 rupees and featured in a single crossing.

Aitken Spence closed 1.00 rupee lower at 115.00 rupees with one crossing taking place.

Speculative trading continued in Touchwood, closing 30 cents lower at 4.40 rupees after more than 2.2 million shares changed hands. Nation Lanka closed 10 cents higher at 7.90 rupees with more than 1.04 million trading. PCH Holdings, closing flat at 1.50 rupees, saw more than 4.6 million shares change hands. The rupee weakened/strengthened to 130.80/131.00 against the US dollar in late trading in the spot market, after opening at 131.00/05 amidst subdued activity levels, dealers said. Dealers said the rupee had gained after the US dollar weakened in global markets. A liquid five year Treasury bond was trading at 11.08 percent, from an opening position of 11.03/16.
http://www.lankabusinessonline.com/news/sri-lanka-stocks-down-0.50-pct,-rupee-steady/1806404128

sriranga

sriranga
Co-Admin

Reuters: Stocks slipped on Monday from near eight-week highs, dragged down by conglomerate John Keells Holdings PLC despite foreign inflows.

The main share index dropped 0.5%, or 29.86 points, to end at 5,946.65, edging down from its closing high in nearly eight weeks hit on Thursday. Both the currency and the stock markets were closed on Friday for a holiday.

Keells accounted for more than 40% of the day’s turnover of Rs. 1.05 billion ($ 8.02 million), which was more than this year’s daily average of Rs. 876 million.

Keells voting slipped 1.52% to Rs. 214 a share, while the conglomerate’s rights fell 26.25% to Rs. 45.80.

“There was an oversupply of Keells rights from a foreign seller. So it came down and because of that the stock also fell,” said a stockbroker.

Foreign investors were net buyers of Rs. 381.9 million worth of shares on Monday, extending the year-to-date foreign inflows to Rs. 22.53 billion worth of shares.

The Central Bank cut key policy interest rates on Tuesday to spur economic growth, just three weeks after the International Monetary Fund advised it to hold rates steady.

Stockbrokers expect the rate cut to give impetus to a sluggish stock exchange.
http://www.ft.lk/2013/10/22/bourse-slips-from-8-week-high-despite-inflows/

http://sharemarket-srilanka.blogspot.co.uk/

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