Sri Lanka stocks close 0.05-pct lower

ECONOMYNEXT – Sri Lanka stocks closed 0.05 percent lower on Thursday.

Colombo’s All Share Price index (ASPI) closed 2.72 points lower at 5,905.02.

The S&P SL20 index of more liquid stocks closed 0.33 percent or 9.65 points lower at 2,908.38.

The market turnover was 587 million rupees with 57 stocks gaining and 58 stocks declining.

John Keells Holdings closed 1.40 rupees down at 151.60 rupees a share contributing most to the fall of the ASPI.

Hatton National Bank closed 3.00 rupees down at 170.00 rupees a share.

Profits at Sri Lanka’s Hatton National Bank group, which includes an insurer fell 15 percent to 2.97 billion rupees in the June 2019 quarter from year earlier, as a debt repayment levy hit profits and loan growth contracted, interim accounts showed.

Commercial Bank of Ceylon,Sri Lanka’s largest private lender closed 1.20 rupees down at 105.80 rupees a share, also pushing the ASPI down.

Commercial Bank profits fell 10.73 percent to 3.5 billion rupees in the June quarter from a year earlier, amid rising interest costs and bad debt provisioning, interim results showed.(COLOMBO, 22 Aug, 2019)