Sri Lanka stocks weaken; All Share falls below 6,000 points
Sep 18, 2018 12:07 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka stocks fell below 6,000 points by midday Tuesday reaching a new year-to-date low on selling in index-heavy stocks like John Keells Holdings, Nestle Lanka, Dialog and Commercial Bank.
Colombo's All Share index fell 0.61 percent, down 37.00 points to 5,991.49, the lowest in 2018, and the S&P SL20 of more liquid stocks was down 1.27 percent, down 39.70 points to 3,090.58.
Sri Lanka stocks have declined 5.96 percent so far in 2018
Market turnover was 620.3 million rupees a few minutes to noon.
The benchmark index was weighed down by John Keells Holdings (down 2.60 rupees to 132 rupees), Nestle Lanka (down 50 rupees to 1,700 rupees), Dialog (down 30 cents to 12 rupees) and Commercial Bank (down 2.50 rupees to 117 rupees).
Brokers said policy uncertainty was the main reasons for stocks' lacklustre performance with a recent emerging market sell-down also impacting investor sentiment.
The All Share index has declined 18.79 percent since end-2014. (COLOMBO, 18 September 2018)