Sri Lankan stocks down 0.3-pct after six-day rally

COLOMBO, Nov 19, 2014 (EconomyNext) – Sri Lankan stocks closed down 0.3 percent Wednesday with profit taking seen after a six-day rally but foreign investors remaining  net buyers, brokers said.

The All Share Price Index, which has hit a three-and-a-half year high, slipped 23.13 points to end at 7,525.10 while S&P SL20 index, which tracks the top 20 largest and most liquid stocks on the Colombo Stock Exchange, fell 16.06 index points (-0.38 percent) to close at 4,188.81.

Turnover was 1.8 billion rupees.

Foreign investors remained net buyers for the tenth consecutive day with a net inflow of 145 million rupees, Lanka Securities said.

Net foreign inflows were seen in Hatton National Bank, People’s Leasing & Finance, and Commercial Credit & Finance while net foreign outflows was mainly seen in John Keells Holdings.

The benchmark index was dragged down by the fall in prices of stocks with a heavy weighting on the index.

Carson Cumberbatch was down three percent to 460.00 rupees, Ceylon Tobacco Company ended at 1,131.00 rupees, down 1.6 percent, and Dialog Axiata was down 2.9 percent to 13.60 rupees.

Access Engineering topped the turnover list for the second consecutive day supported by several crossings of six million shares at 41.00 rupees, Lanka Securities said.
Turnover from Access Engineering accounted for 22% of the market turnover.

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