Sri Lankan stocks end little changed

(Reuters) - Sri Lankan stocks ended little changed on Friday amid expectation of strong corporate earnings after market heavyweight John Keells Holdings' upbeat results.

The main stock index ended 0.03 percent, or 2.24 points, higher at 6,783.64, gaining 6.35 percent so far this month. On Tuesday, the index marked its highest close since Sept. 20, 2011.

"The market is still not steady as some shares are overheated. But corporate earnings are expected to show improvements and we expect more local investors to come back to the bourse," said a stock broker asking not to be named.

The index has been in the overbought region since July 3, having risen 14.73 percent so far this year as local investors moved funds from fixed income to riskier assets in view of the low interest rate.

Turnover was 1.23 billion rupees ($9.44 million), more than this year's daily average of about 1.09 billion rupees.

Foreign investors were net buyers of 217.4 million rupees worth of shares on Friday, extending the year-to-date net foreign inflow in shares to 10.59 billion rupees.

Shares of Distillers Sri Lanka Plc rose 1.53 percent to 206 rupees, while Dipped Products Plc rose 5.46 percent to 127.40 rupees.

Conglomerate John Keells Holdings Plc, which posted a 35 percent growth in its June quarter profit, fell 0.46 percent to 238.70 rupees. Analysts said investors sold the stock citing it was overheated. 

($1 = 130.2500 Sri Lankan Rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lanka shares close higher

July 25, 2014 (LBO) - Sri Lanka's shares closed 0.03 percent higher Friday amid net foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 2.24 points higher at 6,783.64, up 0.03 percent. The S&P SL20 closed 2.30 points lower at 3,764.90, down 0.06 percent.

Turnover was 1.23 billion rupees, up from 950.21 million rupees a day earlier with 92 stocks closed positive against 89 negative.

Chevron Lubricants Lanka closed 70 cents higher at 310.00 rupees with two off-market transactions of 93.00 million rupees changing hands at the same rupees per share contributing 8 percent of the daily turnover.

The aggregate value of all off-the-floor deals represented 19 percent of the turnover.

PCH Holdings closed 40 cents lower at 2.80 rupees with market transactions of 325.61 million rupees contributing 26 percent of the turnover while attracting most number of trades during the day.

Ceylon and Foreign Trades closed 1.40 rupees higher at 8.30 rupees, also drawing trades.

Foreign investors bought 271.61 million rupees worth shares while selling 54.26 million rupees worth shares.

Distilleries closed 3.10 rupees higher at 206.00 rupees and Ceylon Cold Stores closed 5.60 rupees higher at 200.10 rupees.

Commercial Leasing and Finance closed 10 cents higher at 4.40 rupees and Ceylinco Insurance closed 33.80 rupees lower at 1,352.50 rupees. Carson Cumberbatch closed 10.00 rupees lower at 470.00 rupees and John Keells Holdings closed 1.10 rupees lower at 238.70 rupees. JKH’s W0022 warrants closed 80 cents lower at 64.00 rupees and its W0023 warrants closed 10 cents higher at 71.80 rupees.

DFCC Bank to offer Debenture Issue

The DFCC Bank is to offer 30 million Senior Unsecured Redeemable Rated Debentures at an issue price of Rs. 100 each, with an option to issue up to a further 20 million Debentures in the event the initial 30 million Debentures are oversubscribed.

Subscriptions open on 07 August 2014.

Managers to the issue are Capital Alliance Partners Limited while the Registrars are SSP Corporate Services (Private) Limited.

The Prospectus would be delivered to Member Firms/Trading Members on 20 July 2014.

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Sri Lanka shares slip on profit taking; foreigners buy

(Reuters) - Sri Lankan stocks slipped on Thursday for a second straight session, moving further away from Tuesday's 34-month closing high as investors booked profits, brokers said.

The main stock index ended 0.04 percent, or 2.58 points lower at 6,781.40, slipping further away from the highest close since Sept. 20, 2011, hit on Tuesday. It has gained 6.35 percent so far this month.

The index has been in the overbought region since July 3, having risen 14.73 percent so far this year as local investors moved funds from fixed income to riskier assets in view of the low interest rates.

"Profit-taking continued today also. We might see a bit of profit-taking," said a stock broker asking not to be named.

Turnover was 950 million rupees ($7.30 million), less than this year's daily average of about 1.09 billion rupees.

Foreign investors were net buyers of 55.8 million rupees worth of shares on Thursday, extending the year-to-date net foreign inflow in shares to 10.37 billion rupees.

Shares of conglomerate John Keells Holdings Plc fell 0.04 percent to 239.80 rupees while Carsons Cumberbatch Plc fell 1.96 percent to 480 rupees.

Lower interest rates have prompted local investors to buy shares and move away from unattractive fixed assets, analysts said.

Yields on treasury bills edged down further at a weekly auction on Wednesday.

Foreigners have been buying risky assets because they see value in them, analysts said. 

($1 = 130.2000 Sri Lankan Rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Anupama Dwivedi)

Sri Lanka shares close lower

July 24, 2014 (LBO) - Sri Lanka's shares closed 0.04 percent lower on Thursday with index heavy stocks losing ground, brokers said.

The Colombo benchmark All Share Price Index closed 2.58 points lower at 6,781.40, down 0.04 percent. The S&P SL20 closed 7.94 points lower at 3,767.20, down 0.21 percent.

Turnover was 950.21 million rupees, down from 1.03 billion rupees a day earlier with 106 stocks closed positive against 96 negative.

Commercial Bank closed 40 cents higher at 144.90 rupees with an off-market transaction of 43.50 million rupees changing hands at 145.00 rupees per share contributing 5 percent of the daily turnover.

The aggregate value of all off-the-floor deals represented 7 percent of the turnover.

Lanka Century Investments closed 10 cents higher at 11.40 rupees, attracting most number of trades during the day.

Carson Cumberbatch closed 9.60 rupees lower at 480.00 rupees and Good Hope closed 440.00 rupees lower at 1,500.00 rupees, contributing most to the index drop.

Sri Lanka Telecom closed 80 cents lower at 55.20 rupees and Dialog Axiata closed 10 cents lower at 10.80 rupees.

Lion Brewery Ceylon closed 21.80 rupees lower at 641.30 rupees and Ceylon Tobacco Company closed 29.30 rupees higher at 1,129.50 rupees.

Sri Lanka's John Keells Holdings net up 35-pct

July 24, 2014 (LBO) - Profits at Sri Lanka's John Keells Holdings rose 35 percent to 2.14 billion rupees, in the June 2014 from a year earlier helped by 1.9 billion rupees in net interest income, interim accounts showed.

The firm reported earnings of 2.12 rupees per share for the quarter.

Revenues rose 7 percent to 21.2 billion rupees, cost of sales rose 8 percent to 15.9 billion rupees allowing gross profits to grow 12 percent to 1.5 billion rupees.

Transportation which has containers and bunkering reported earnings of 484 million rupees in the quarter down from 703 million rupees, profits from leisure rose to 582 million rupees up from 394 million rupees.

Property brought in 199 million rupees, up from 125 million rupees and profits from consumer foods and retail rose 337 million rupees up from 184 million rupees.