Sri Lanka stocks close 0.88-pct down

ECONOMYNEXT – Sri Lanka stocks closed 0.88 percent lower on Friday, with the benchmark index dragged lower by weaker bank share prices.

Colombo’s All Share Price index (ASPI) closed 51.68 points lower at 5,798.57.

The S&P SL20 index of more liquid stocks closed 0.97 percent or 27.65 points lower at 2,832.29.

The market turnover was 631 million rupees with 31 stocks gaining and 103 stocks declining.

Sampath Bank along with Lion Brewery Ceylon contributed most to the turnover with 117 million rupees and 100 million rupees in crossings or block deals.

“Today’s market experienced a continuous downward trend from yesterday, dragged down by the banks,” brokers said.

Retail activity was moderate with 6,415 trades done in total, brokers said.

Seylan Bank closed 15.60 rupees down at 52.90 rupees a share contributing most to the fall of the ASPI.

Commercial Bank of Ceylon closed 2.30 rupees down at 103.70 rupees a share and Dialog Axiata closed 20 cents lower at 10.50 rupees a share, also pushing the ASPI down.

(COLOMBO, 06 Sep, 2019)

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