An Echelon Media Company
Tuesday December 5th, 2023

Sri Lanka stocks close lower on CTC, JKH, SLT

ECONOMYNEXT– Sri Lanka’s stock closed 2.57 percent lower on Friday, dragged down by Ceylon Tobacco Company, John Keells Holdings and Sri Lanka Telecom, provisional data showed.

Colombo’s main All Share Price Index (ASPI) reached a daily high of 5,479.45 at market open but tumbled down and fell throughout the day.

The ASPI closed 141.10 points lower to 5,343.15 and the S&P SL20 index of more liquid stocks fell 2.70 percent or 68.70 points to end at 2,479.61.

Asian markets which was gaining throughout the week plunges on Friday as the investors started withdrawing from the stock market to invest into Yen and Gold with the continues effects of the coronavirus.Tokyo fell 2.7 percent, Shanghai 1.2 percent, Hong Kong 2.3 percent.

European market also fell due to the coronavirus fear with Paris down 3.9 percent, Frankfurt down by 3.7 and london down by 3.3 percent.

Turnover in Colombo reached 827 million rupees with 21 stocks gaining and 153 falling.

Index-heavy Ceylon Tobacco Company last traded 50.90 rupees lower at 1,048.50 rupees a share, contributing most to the ASPI’s fall.

John Keells Holdings last traded 4.70 rupees lower at 140.10 rupees a share and Sri Lanka Telecom fell 2.50 rupees to 27.00 rupees a share, also pushing the ASPI down.

There was a 206.5 million rupee negotiated trade (crossing) in John Keells Holdings at 140 rupees per share and the stock closed 50 cents up at 140.50 rupees a share.

A 82 million rupee crossing was seen in John Keells Holdings at 4.10 rupees a share and the stock closed 30 cents up at 4.40 rupees a share.

The Utilities Industry, which was the most active, fell 1.3 percent.

The Food, Beverages and Tobacco industry which was also active fell 2.8 percent. (Colombo/Mar 06/2020)


Leave a Comment

Your email address will not be published. Required fields are marked *

Leave a Comment

Leave a Comment

Cancel reply

Your email address will not be published. Required fields are marked *

Sri Lanka finding ways to clear 1.1mn pending cases: Justice Minister

ECONOMYNEXT – Sri Lanka is taking a series of steps to speed up 1.1 million pending court cases and encourage alternative dispute solving mechanisms, Justice Minister Wijedasa Rajapakshe said.

“The delay in court cases is a serious problem,” Minister Rajapakshe told a briefing at the President’s Media Centre.

“We have already taken several steps to expedite cases.”

There were 5,680 cases in Supreme Court, 4,054 in the Court of Appeal, 6,168 in the High Court of Civil Appeal, 8,363 in the Commercial High Court, 28,000 in the High Court, 254,000 in District Courts and 791,000 in Magistrates Courts.

In 2015, only 49 percent of complaints to mediation boards were resolved. Following reforms, the ratio has been increased to 70 percent.

The value of disputes going to mediation board has been raised to one million rupees from 500,000 rupees.

To solve land problems in the post-war period, special mediation boards on property was set up in the North and the East.

Mediation boards on property will be set up in another 16 districts.

Commercial High Courts were increased to four from three.

Another Commercial High Court will be set up in the future. The consideration of cases that can go to a High Court was raised from 4 million rupees to 10 million rupees.

A commercial dispute resolution law will be introduced next January.

A small claims court has been established.

Case involving disputes below 2 million rupees can be directed to small claims court.

Continue Reading

Sri Lanka stocks close up as some investor interest returns

ECONOMYNEXT – The Colombo Stock Exchange closed up on Monday, CSE data showed.

The All Share Price Index was up 0.22 percent, or 23.33 points, at 10,743.59.

The S&P SL20 index was up 0.68 percent, or 20.60 points, at 3,067.73.

Turnover was at 708 million. The banks sector contributed 189 million, while the food, beverage and tobacco sector contributed 176 million of this.

Sri Lanka’s stock market has seen some investor interest return after last week’s news that the country had managed an agreement on a debt restructuring deal with an official creditor committee, and foreign funds for some development projects resumed.

Top positive contributors to the ASPI in the day were Sampath Bank Plc (up at 71.50), LOLC Holdings Plc (up at 379.00), and Commercial Bank of Ceylon Plc, (up at 90.90).

There was a net foreign outflow of 52 million.

Citrus Leisure Plc, which announced that its banquet hall and revolving restaurant at the Lotus Tower would launch on or around Dec 9, saw its share price rise to 6.20 rupees. (Colombo/Dec4/2023).

Continue Reading

Sri Lanka rupee closes broadly steady at 328.10/30 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 328.10/30 to the US dollar on Monday, from 328.00/10 on Friday, dealers said.

Bond yields were stable.

A bond maturing on 01.06.2025 closed at 13.70/14.00 percent from 13.70/95 percent.

A bond maturing on 01.08.2026 closed at 13.90/14.10 percent from 13.90/14.05 percent.

A bond maturing on 15.01.2027 closed at 14.00/14.10 percent from 14.05/10 percent.

A bond maturing on 01.07.2028 closed at 14.20/35 percent from 14.15/25 percent.

A bond maturing on 15.05.2030 closed at 14.25/45 percent, from 14.20/45 percent.

A bond maturing on 01.07.2032 closed at 14.05/40 percent, from 14.00/45 percent. (Colombo/Dec4/2023)

Continue Reading