Sri Lanka stocks close up 0.8 -pct: Six-month high

Aug 05, 2015 (LBO) – Sri Lanka’s stocks closed up 0.77 percent on Wednesday, with the market picking up after losses yesterday and positive investor sentiment due the upcoming parliamentary polls, brokers said. The Colombo benchmark All Share Price Index closed 56.26 points higher at 7,366.31 up 0.77 percent. The S&P SL20 closed 10.39 points higher at 4,083.02 up 0.26 percent. Turnover was 2.36 billion rupees, up from 1.55 billion rupees Tuesday with 127 stocks closing positive against 52 negative. The main index showed gains in Commercial Credit and Finance closing at 74.00 rupees, up 5.50 rupees and Carson and Cumberbatch closing at 404.00 rupees, up 7.80 rupees. Cargills Ceylon closed at 156.60 rupees, up 6.60 rupees. "Foreign investors remained as net sellers for the fourth consecutive session, reducing positions worth 538 million rupees and foreign participation was 32 percent," Lanka Securities said. "Net foreign outflows were seen in John Keells Holdings 244 million, Lanka IOC 249 million and Dialog Axiata 59 million while net foreign inflow was mainly seen in Hatton National Bank 23 million." In banking stocks, Commercial Bank closed at 171.50 rupees, up 1.00 rupees and DFCC closed at 197.50 rupees, down 0.50 rupees. Dialog Axiata closed at 11.00 rupees, up 0.10 rupees with 11.9 million shares traded. John Keells Holdings closed at 190.10 rupees, down 1.80 rupees with 1.7 million shares traded.