Monday August 26, 2019

Sri Lanka stocks retreat 0.13-pct, selling on JKH

Apr 11, 2019 16:41 PM GMT+0530 | 0 Comment(s)


ECONOMYNEXT- Sri Lanka's stocks closed 0.13 percent lower on Thursday, continuing a 5-day retreat, with selling on  index-heavy John Keells Holdings (JKH).

The All Share Price Index (ASPI) closed 7.47 points lower at 5,576.11.

The ASPI reached an intra-day high of 5,589.68 in the first two hours of trading, before falling through the rest of the day with volatility.

The more liquid S&P SL20 Index closed 3.96 points lower at 2,717.09.

Turnover was 459.7 million rupees, with 64 stocks gaining and 46 falling.

There was selling pressure from foreigners, with net outflows of 164.9 million from the market.

Dialog Axiata was the most active stock, with 164.5 million rupees in turnover, of which 100 million rupees in trades was through a negotiated deal.

The telco closed flat at 9.10 rupees a share.

JKH closed 40 cents lower at 151.50 rupees a share, being the second most active stock.

The two index-heavy stocks accounted for 63 percent of daily turnover.

Bank and engineering and construction shares were active as well, with gains across the two sector indices.

The government had announced that it had paid back most of its overdues to the construction sector, while the banking sector would soon receive repayments.

Melstacorp contributed most to the ASPI, closing 1.70 rupees lower at 37.50 rupees a share, while Cargills closed 4.90 rupees lower at 200.10 rupees a share.

Hemas Holdings meanwhile closed 1.90 rupees higher at 77.90 rupees a share. (Colombo/Apr11/2019)