Sri Lankan bourse steady at over 3-month high; turnover high

May 5 (Reuters) - Sri Lankan shares edged up on Monday, rising for the fifth straight session to hit their highest in more than three months on foreign inflows as a lower interest rate regime helped boost sentiment.

The country's main stock index edged up 0.02 percent, or 0.99 points, to 6,249.43, its highest close since Jan. 29. It has gained 1.32 percent in the last five sessions.

The market gained 4.28 percent in April as some retail investors started buying risky assets given low interest rates, with buying seen across the board.

The central bank on April 22 kept policy rates steady at multi-year lows.

The day's turnover was 1.25 billion rupees ($9.57 million), more than this year's daily average of 964 million rupees.

Offshore investors were net buyers of 153.2 million rupees worth of stocks on Monday, but they have been net sellers of 7.25 billion rupees so far this year.

Conglomerate Aitken Spence PLC rose 3.42 percent to 102.80 rupees a share, while Dialog Axiata PLC rose 1.08 percent to 9.40 rupees. 

($1 = 130.6250 Sri Lanka rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair)

Sri Lanka stocks close higher

May 05, 2014 (LBO) - Sri Lanka's stocks close higher Monday with conglomerate Aitken Spence gaining amid strong foreign participation, brokers said.

The Colombo benchmark All Share Price Index closed 0.99 points higher at 6,249.43 up 0.02 percent. The S&P SL20 closed 5.88 points higher at 3,441.69, up 0.17 percent.

Turnover was 1.25 billion rupees, down from 1.31 billion rupees last Friday with 105 stocks close positive against 88 negative.

Expolanka Holdings closed 30 cents lower at 10.40 rupees with market transactions of 218.00 million rupees contributing 17 percent of the turnover.

All off market deals accounted for 13 percent of the daily turnover.

ACME Printing and Packaging closed 2.50 rupees higher at 11.90 rupees and Textured Jersey Lanka closed 70 cents higher at 18.60 rupees, attracting most number of trades.

Foreign investors bought 458.00 million rupees worth shares while selling 304.78 million rupees worth shares.

Aitken Spence closed 3.40 rupees higher at 102.80 rupees and Lion Brewery Ceylon closed 14.50 rupees higher at 435.00 rupees, contributing most to the index gain.

LOLC closed 1.80 rupees higher at 77.90 rupees and Chevron Lubricants Lanka closed 5.80 rupees higher at 274.80 rupees.

Dialog Axiata closed 10 cents higher at 9.40 rupees and Sri Lanka Telecom closed 40 cents lower at 47.70 rupees.

Ceylon Tobacco Company closed 10.10 rupees lower at 1,099.90 rupees and John Keells Holdings closed 2.00 rupees lower at 235.00 rupees.

JKH’s W0022 warrants closed 80 cents lower at 65.30 rupees and its W0023 warrants closed 10 cents lower at 71.90 rupees.

Carson Cumberbatch closed 4.10 rupees lower at 401.00 rupees.

Sri Lanka's Expolanka Holdings draws interest on take-over speculation

May 05, 2014 (LBO) - Expolanka Holdings Plc, which has interests in logistics, leisure and trading is seeing heightened investor interest on take-over speculation, brokers said.

On Monday, 25 million Expolanka shares changed hands.

The stock closed at 10.30 rupees after opening at 10.70 rupees. Expolanka is up from 9.50 rupees levels in the last week of April.

Investors have shown interest on speculation of a take-over or strategic purchase by a foreign logistics firm, brokers said. Among the possible contenders mentioned is a Japan-based firm.

A top Expolanka official declined comment.

Expolanka Holdings' core business is logistics and it has an international network spanning East Asia and Sub Saharan Africa.