Ceylon Cold Stores drags down Sri Lanka stocks

ECONOMYNEXT- Sri Lanka’s stocks fell 0.73 percent on Thursday, continuing a three day retreat, with the market being dragged down by Ceylon Cold Stores, provisional data showed.

The main All Share Price Index (ASPI) fell 45.52 points to 6,160.88, falling throughout the day after a brief gain in the first half hour of trade.

The S&P SL20 Index of more liquid stocks closed 1.07 percent or 32.55 points down at 2,999.22.

Market turnover was 1.2 billion rupees, and 27 stocks gained while 115 fell. Foreigners were net sellers with net outflows of 27.8 million rupees amid moderate activity.

Foreign selling centred on Sampath Bank, while buying was seen on John Keells Holdings.

Soft-drink and confectionery maker Ceylon Cold Stores closed 28.80 rupees down at 820 rupees a share while the Distilleries Company of Sri Lanka closed 50 cents down at 18.90 rupees a share, contributing most to the ASPI fall.

There was a 300 million rupee negotiated trade (crossing) in Sinhaputhra Finance, when new investors acquired the finance company, which is under stress, to infuse capital.

Another 32.8 million rupee crossing took place in Central Finance.

Retail investors were most active on Access Engineering and Eastern Merchants.(Colombo/Dec05/2019)

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