Sri Lanka stocks closed lower
ECONOMYNEXT – Sri Lanka stocks closed 0.47 percent on Thursday’s helped by Browns Investments, Distilleries Company and Ceylon Tobacco, Colombo Stock Exchange provisional data showed.
Colombo’s All Share Price Index fell 0.47 percent or 31.52 points to close at 6,624.15.
The S&P SL20 index of more liquid stocks fell 0.76 percent or 19.74 points to close at 2,582.95.
The market turnover was 4.4 billion rupees with 58 stocks gaining and 135 falling.
Browns Investments, contributed most to ASPI’s fall, falling 30 cents a share to close at 3.80 rupees a share, after a deal to join China Harbour Engineering in a 450 million dollar mixed development project in reclaimed land off Sri Lanka’s capital Colombo.
Browns Investments gained in the past few days though on the news of the deal.
The project will be jointly owned and managed by Browns Investment and CHEC, Browns said in a stock exchange filing.
“Attracting foreign direct investment is a key priority for our Government, and this landmark project is a strong indicator that Sri Lanka is now back in business,” Prime Minister Rajapaksa said after the agreement was signed.
Its parent LOLC Holdings also closed 3.50 rupees down at 136.80 rupees.
Meanwhile, Sri Lanka’s Sunshine Holdings Plc closed 1.20 rupees up at 84.00 rupees a share with acquiring Akbar Pharmaceuticals (Pvt) Ltd for a 25 percent stake in its own pharma unit.
Akbar Brothers would also buy an additional 3 percent stake in Sunshine Healthcare for 278.4 million taking their stake to 28 percent, SHL said in a stock exchange filing.
Sunshine Holdings, which had a 100 percent stake in its pharma unit, which is a private company, will see its share going down to 72 percent and Akbar would hold 28 percent in the combined entity.
Distilleries Company fell 50 cents to close at 20.50 rupees also contributing to the ASPI fall.
Hemas Holdings fell 2.00 rupees to close at 95.20 rupees a share.
Eden Hotel Lanka gained 10 cents to close at 12.20 while Hotel Sigiriya close flat at 68.10 rupees a share.
Hatton National Bank fell 2.10 rupees to close at 123.80 rupees, Commercial Bank closed 50 cents down at 80.50 rupees and DFCC Bank closed 70 cents down at 64.30 rupees while Sampath bank fell 1.00 rupee to close at 133.10.
Expolanka Holdings closed flat at 25.10 rupees while Sri Lanka Telecom fell 20 cents to close at 33.80 rupees.
C T Holdings closed 2.10 rupees down at 162.00 rupees while Asiri Hospital Holdings gained 60 cents to close at 30.90 rupees and Ceylon Cold Stores gained 31.40 rupees to close at 699.90 rupees a share arresting the ASPI fall.
Melstacorp Plc closed 50 cents to close at 49.70 rupees a share and Softlogic Holdings closed 20 cents down at 12.50 rupees a share.
Nestle Lanka gained 14.00 rupees to close at 1,224.70 rupees a share and Cargills Ceylon closed flat at 199.00 rupees a share.
Ceylon Tobacco Company fell 10.70 rupees to close at 1,017.70 rupees.
The Food Beverage and Tobacco industry was the most active, fell 0.59 percent.
Hayleys Plc fell 1.80 rupees to close at 388.20 rupees a share and Dialog Axiata closed flat at 12.30 rupees.
Aitken Spence Plc closed 1.40 rupees down at 58.70 rupees and Richard Pieris and Company fell 10 cents to close at 14.90 rupees. (Colombo/December 17/2020)