Sri Lanka shares slip from near 5-month high on profit-taking

COLOMBO, Jan 17 (Reuters) - Sri Lankan stocks slipped from a near five-month high on Friday due to profit-taking, snapping a six session winning streak, with diversified and banking shares leading the fall, while foreign investors sold risky assets in an overbought market. 

 The main stock index fell 0.58 percent, or 35.93 points, to end at 6,131.05, slipping from its highest close since Aug. 19 hit on Thursday. 

 Shares of market heavyweight and top conglomerate John Keells Holdings PLC fell 0.92 percent to 238 rupees, while Capital Holdings PLC ended lower 5.56 percent. 

 "Profit-taking brought the market down," said a stockbroker asking not to be named. 

 The market has gained 3.73 percent in six straight sessions through Thursday and the index has been in an overbought region since Jan. 7, Thomson Reuters data showed. 

 Analysts attributed the gain to the central bank's interest rate cut on Jan. 2 and the recent fall in T-bill yields. 

 The index has risen 3.69 percent so far this year after a 4.8 percent gain in 2013. It fell in both 2012 and 2011. 

 The day's turnover was 1.65 billion rupees ($12.6 million), easily surpassing last year's daily average of about 828.4 million rupees. 

 Foreign investors were net sellers of 80.2 million rupees worth of shares on Friday, but have been net buyers of 638.9 million rupees in shares so far this year. 

Foreigners net bought 22.88 billion rupees of stocks last year. 

($1 = 130.6750 Sri Lanka rupees) 

 (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)
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Sri Lanka stocks down 0.5-pct

Jan 17, 2014 (LBO) – Sri Lanka stocks close in the red Friday ending a six-day upbeat trend with tobacco and diversified stocks losing ground, brokers said.

The Colombo benchmark All Share Price Index closed 35.93 points lower at 6,131.05, down 0.58 percent. The S&P SL20 closed 19.11 points lower at 3,407.94, down 0.56 percent.

Turnover was 1.64 billion rupees, down from 1.86 billion rupees a day earlier, with stocks of 128 firms closing in the red against 62 gainers.

Index heavy JKH topped the turnover list with three off market transactions of 795 million rupees contributing to 48 percent of the total turnover today.

The Finance Company closed 60 cents lower at 14.10 rupees and Blue Diamonds closed flat at 3.70 rupees, attracting most number of trades during the day.

Foreigners bought 947 million rupees worth shares while selling 1,028 million rupees of shares.

Ceylon Tobacco Company closed 18.70 rupees lower at 1,201.60 rupees and JKH closed 2.20 rupees lower at 238.00 rupees, contributing most to the index drop.

JKH’s W0022 warrants closed 5.20 rupees lower at 79.90 rupees and its W0023 warrants closed 5.50 rupees lower at 84.60 rupees.

Aitken Spence Hotel Holdings closed 2.90 rupees lower at 69.10 rupees and Carson Cumberbatch ended 4.20 rupees lower at 350.00 rupees.

Nestle Lanka ended 60 cents lower at 2,139.50 rupees and Cargills Ceylon closed flat at 146.50 rupees.

Bukit Darah closed 5.00 rupees lower at 615.00 rupees and Distilleries ended flat at 203.00 rupees.


HNB closed 1.10 rupees higher at 158.10 rupees and Lanka Orix Leasing Company closed 50 cents higher at 72.50 rupees.

NDB closed 3.70 rupees lower at 182.20 rupees.

Dialog gained 10 cents to 9.30 rupees and Lion Brewery closed 5.00 rupees higher at 380.00 rupees.

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