Sri Lanka stocks close 0.19-pct lower

Colombo Stock Exchange Board

ECONOMYNEXT – Sri Lanka stocks closed 0.19 percent lower on Thursday in a dull market, brokers said.

Colombo’s All Share Price index (ASPI) closed 11.29 points lower at 5,850.25.

The S&P SL20 index of more liquid stocks closed 0.64 percent or 18.53 points lower at 2,860.46.

The market turnover was 518 million rupees with 39 stocks gaining and 69 stocks declining.

There was a single crossing of 48,492 Ceylon Tobacco Company shares at 1,150 rupees a share which made up 44 percent of the day’s turnover.

The second largest contribution to market turnover was from Browns Investment, adding up to 109 million rupees.

Low retail activity was seen for the day, brokers said.

Retail activity was mainly in Browns Investment and Sri Lanka Telecom with 1,124 and 662 trades done respectively.

“The market is currently waiting for a clear political sentiment regarding the candidate from the United National Party (UNP) for the presidential elections,” brokers said.

Ceylon Tobacco closed 49.40 rupees down at 1,150.60 rupees a share, contributing most to the fall of the ASPI.

Sampath Bank closed 3.30 rupees down at 160.70 rupees a share and Hatton National Bank closed 1.60 rupees lower at 163.30 rupees a share, also pushing the ASPI down.

(COLOMBO, 05 Sep, 2019)