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Sri Lanka stocks flat

Apr 29, 2013 (LBO) - Sri Lanka's stocks closed barely changed Monday despite foreign investor interest in banking stocks, brokers said. The benchmark Colombo All Share Index closed 05.45 points higher at 5,967.62 up 0.09 percent and the S&P SL 20 Index closed 03.78 points higher at 3,363.14 up 0.11 percent.

Turnover was 846 million rupees. Foreigners bought 158 million rupees of shares and sold 43.9 million rupees worth.

Ceylon Tobacco Company gained 17.90 rupees to close at 815.10 and The Lion Brewery Ceylon closed at 380.00 rupees up 8.00 rupees helping pare losses in a day in a day that saw 133 stocks declining and 76 advancing.

DFCC Bank lost 0.50 rupees to close at 142.80 rupees. Sampath Bank closed at 216.80 rupees down 0.70 rupees.

Commercial Bank of Ceylon gained 40 cents to close at 114.50 rupees. Hatton National Bank closed flat at 163.00 rupees.

Pan Asia closed at 21.00 rupees up 0.10 rupees. Union Bank of Colombo closed at 19.10 rupees down 0.10 rupees.

Commercial Leasing and Finance gained 0.10 rupees to close at 5.00 rupees

Nestle Lanka closed flat at 1790.00 rupees.

Dialog Axiata closed flat 9.30 rupees while Index heavy John Keells Holdings gained 0.40 rupees to close at 249.90 rupees.

Distilleries Company of Sri Lanka closed at 169.20 rupees down by 41 cents.

Aitken Spence closed at 121.60 up 0.60 rupees.

Colombo stocks are now trading at 16.1 times profits historical profits according to CSE data.

But the banking and finance sector is trading at only 10.1 times, diversified which has a liquidity premium and foreign interest at 25.1 times and the much hyped hotels and travels at 35.9 times.

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