Sri Lanka stocks close up 0.3-pct

May 07, 2015 (LBO) - Sri Lanka's stocks closed higher at 0.29 percent, helped by yesterday’s Treasury Bill yield drop, brokers said. The Colombo benchmark All Share Price Index closed 20.61 points higher at 7,212.90 up 0.29 percent. The S&P SL20 closed 3.63 points higher at 4,062.61 higher 0.09 percent. Turnover was 1.16 billion rupees down from 1.68 billion rupees on Wednesday, with 108 stocks closing positive against 79 negative. The main ASP Index has gained 4.52 percent since the Central Bank cut policy rates on April 15. T-Bill rates have also dropped 44-57 basis points since then. Lanka Securities said, foreign investors continued to be net sellers with a net foreign outflow of 131 million rupees for the fourth consecutive day. "Foreign participation was 21 percent. Net foreign outflows were seen in Union Bank (146 million rupees), Peoples Leasing (18 million rupees) and Hatton National Bank (7 million)," "While a net foreign inflow of 35 million rupees was recorded from Textured Jersey." The most actively traded stock was Union Bank with over 6 million shares crossing in six separate crossing at 25.20 rupees and the stock closing flat at 25.50 rupees. The top contributors to the day’s trading according to Lanka Securities was Cargills Ceylon which closed at 144.80 rupees, up 9.80 rupees and Commercial Leasing and Finance which closed at 4.50 rupees, up 0.30 rupees. Crossings were also recorded at Pan Asia Power (20 million shares at 3.50 rupees) and DFCC Bank ( 130,000 shares at 220.00 rupees). In the banking sector Hatton National Bank closed at 236.60 rupees, up 1.60 rupees and NDB closed flat at 270.00 rupees. Commercial Bank closed at 171.90 rupees, up 1.50 rupees. (updated)