Sri Lanka stocks close down 0.6-pct: Low investor activity

Aug 31, 2015 (LBO) – Sri Lankan stocks closed down 0.59 percent on Monday with low investor activity and losses in the index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed down 43.58 points at 7,306.42 down 0.59 percent. S&P SL20 closed 23.72 points lower at 4,025.43 down 0.57 percent. “There was low investor activity as they are waiting for the Central Bank’s monetary policy that will be out later today,” Lanka Securities said. Turnover was 518 million rupees, down from 1.06 billion rupees, Friday with 50 stocks closing positive against 107 negative. The main index showed losses in John Keells Holdings closing at 180.60 rupees, down 3.10 rupees and Ceylon Tobacco Company closed at 964.00 rupees, down 15.60 rupees. Hemas Holdings closed at 88.20 rupees, down 2.70 rupees. Banking sector stocks traded actively and made gains with Commercial Bank closing at 174.00 rupees, up 0.50 rupees and DFCC Bank closed at 194.90 rupees, up 2.10 rupees. Dialog Axiata closed flat 11.50 rupees. Foreign investors were net buyers, snapping six days of net selling with a net foreign inflow of 30 million rupees while foreign participation was 23 percent. Net foreign inflows were seen in Commercial Bank 73 million rupees, Textured Jersey 12 million rupees, People’s Leasing 3 million rupees and net foreign outflow was mainly seen in Laugfs Gas 25 million rupees. During the month August the main index declined by 25.11 points or 0.34 percent while S&P SL 20 index dipped by 81.71 points or 1.99 percent. Net foreign outflow of 4.3 billion was recorded during August, the highest outflow per month since February 2014. Foreign participation was relatively low at 26 perecnt compared to 36 perecnt recorded in July. According year-to-date net foreign outflow increased to LKR 3.4 billion rupees. (UPDATED)