Sri Lanka stocks close down 0.2-pct

Dec 14, 2012 (LBO) - Sri Lanka's stocks closed down 0.2 percent Friday taking a breather after two days of strong gains following a rate cut earlier in the week, brokers said. The benchmark Colombo All Share Index closed at 5,522.7 points down 24.6 points and the S&P SL20 Index closed up 1.5 points at 3,022.7.

Turnover was 505 million rupees. Foreigners were net buyers, purchasing 304 million rupees of stocks against sales of 281 million rupees.

DFCC Bank closed up 3.00 rupees at 112.00, Distilleries rose 2.50 to 160.00, NDB closed up 3.30 at 135.50, Indo Malay rose 75 to close at 1,575 and JKH closed up 60 cents at 218 rupees, contributing most to the index gain in a day which saw 51 stocks advancing and 133 losing ground.

Dialog Axiata fell 20 cents to close at 8.10 rupees, Sri Lanka Telecom fell 70 cents to close at 42.70, Aitken Spence fell 3.0 rupees to 117.50 and CTC fell 4.60 to 795.30 rupees.

Sri Lanka's market price to earnings multiple on historical earnings is now 14.6 times. Market capitalization fell 12 billion rupees to 2,120 billion.