JKH drags Sri Lanka stocks 0.37-pct lower at close
Jun 20, 2019 15:17 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT- Sri Lanka's stocks closed 0.37 percent lower on Thursday, dragged down by index-heavy John Keells Holdings (JKH), provisional data showed.
The benchmark All Share Price Index (ASPI) closed 19.93 points down at 5,372.37.
The ASPI had fluctuated within a narrow band in the morning session before reaching a daily high of 5,395.29 at the start of the afternoon session, and then fell sharply.
The more liquid S&P SL20 Index closed 0.77 percent or 19.42 points down at 2,494.54, moving downwards throughout the day.
Ratings agency Moody's on Thursday said that the government would find the refinancing of 3 billion US dollars in maturing foreign debt challenging, as tourism revenue and economic growth would be lower after the Easter Sunday attack.
India-based NDTV, quoting Indian intelligence documents, reported that ISIS, which claimed responsibility for the Easter Sunday terror, is increasing its focus on India and Sri Lanka.
Indian intelligence had warned Sri Lanka ahead of the bombings that an attack was imminent.
Locally, a state of emergency which has existed since the bombings will be extended further, a legislator loyal to President Maithripala Sirisena was quoted as saying on our sister site RepublicNext.
Turnover at the Colombo Stock Exchange was 136 million rupees, with 46 stocks gaining and 50 falling.
There was moderate foreign activity with net outflows of 34.4 million rupees from the market.
The trend of heavy crossings which had boosted turnover to between 500-2,200 million rupees witnessed over the past four days ended on Thursday.
JKH, which was the most active, fell 3.50 rupees to close at 137.50 rupees a share, contributing most to the benchmark index fall.
Dialog Axiata closed 10 cents down at 9 rupees a share and Hatton National Bank fell 2 rupees to 135 rupees a share, also pushing the ASPI down.
Retail buying interest was seen on LOLC Finance Plc, which closed 30 cents up at 4 rupees a share. (Colombo/Jun20/2019)