Sri Lanka stocks down 0.97-pct

ECONOMYNEXT – Sri Lanka stocks fell 0.97 percent on Monday, after a strong recovery a day earlier, as heavy selling was seen in Melstacorp, Expolanka and Browns Investments, though there was buying interest at lower levels, brokers said.

Turnover was six billion rupees with 60 stocks gaining and 133 falling.

The Colombo benchmark All Share Price Index index fell 77.73 points to close at 7,907.27.

The index gained steeply in the first minute of trading, with sentiments more positive with an index hitting an intra-day high of 8,125.15 but selling pressure emerged in several stocks which had gained steeply on Friday.

There is technical resistance around 8,300 levels, brokers said.

The S&P SL20 index of more liquid stocks fell 0.52 percent or 16.65 points to close at 3,163.59.

Melstacorp fell 7.30 rupees or 12.2 percent a share to close at 52.70 rupees contributing mostly for the ASPI fall and Expolanka Holdings closed 2.40 rupees down at 49.40 rupees a share.

John Keells Holdings gained 5.75 rupees to close at 160.00 rupees and Vallibel One gained 4.30 rupees to close at 70.00 rupees a share arresting the ASPI fall.

LOLC Holdings gained 3.75 rupees a share to close at 434.50 rupees.

LOLC Finance, fell 50 cents to close at 7.00 rupees, Brown and Company fell 8.00 rupees to close at 196.25 rupees andBrowns investments fell 40 cents to close at 5.60 rupees.

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The Kingsbury Plc closed flat at 12.50 rupees, Singer Industries Ceylon closed flat at at 96.30 rupees and Unisyst Engineering closed 60 cents down at 15.10 rupees.

Royal Ceramic Lanka closed 19.50 rupees up at 353.75 rupees, Lanka tiles fell 9.75 to close at 245.50 rupees and Lanka Walltiles closed 5.00 rupees down at 261.50 rupees and Lanka Ceramic closed 10.75 rupees down at 155.50 rupees.

Hatton National Bank closed 50 cents up at 140.00 rupees and Commercial Bank of Ceylon gained2.20 rupees to close at 90.30 rupees.

DFCC Bank closed 40 cents down at 65.40 rupees and Sampathbank closed 6.50 rupees down at 167.75 rupees.

Nations trust bank gained 10 cents to close at 61.10 rupees, Seylan Bank closed flat at 52.10 rupees and Pan Asia Banking Corporation fell 20 cents to close at 17.90 rupees.

Central Finance Company fell 10.00 cents to close at 100.00 rupees, Alliance Finance Companyfell 1.80 rupees to close at 50.80 rupees and Citizens Development Business Finance fell 1.00 rupee to close at 120.25 rupees.

Sinhaputhra Finance closed 20 cents down at 4.60 rupees, Softlogicfinance closed 10 cents down at 11.10 rupees and Housing DevelopmentFinance fell 20 cents to close at 39.90 rupees.

Cargills Ceylon gained 2.25 rupees to close at 239.75 rupees, Hemas Holdings fell 90 centsto 88.10 rupees, Distilleries Company fell 30 cents to close at 20.90 and Ceylon Grain Elevators fell 4.75 rupees to close at 154.25 rupees.

In the hotel sector Eden Hotel Lanka fell 30 cents to close at 11.20 rupees, Sigiriya Village hotel closed 1.30 down at 33.80 rupees, John Keels Hotels closed 40 cents down at 10.50 and Aitken Spence Hotel holdings fell1.90 rupees to close at 30.80.

Ceylon Tobacco Company fell 15.00 rupees to close at 1,085.00 rupees, Piramal Class Ceylon closed 10 cents down at 9.50 rupees while Ceylon Cold stores closed 4.25 rupees up at 664.50 rupees.

Carson Cumberbatch gained 1.50 rupees to close at 310.25 rupees while Access Engineering fell 1.40 rupees to close at 25.10 rupees.

Nestle Lanka closed 23.50 rupees up at 1,166.50 rupees while Aitken Spence Plc closed 3.10 rupeesdown at 64.50 rupees.

Sunshine Holdings fell 1.30 rupees to close at 85.50 rupees a share.

Sri Lanka Telecom closed 40 cents down at 36.90 rupees while Dialog Axiata closed 30 cents up at 12.50rupees and Richard Pieris and Company closed 40 cents down at 15.90 rupees.

The Capital Goods Industry was the most active, gained 1.4 percent today. (Colombo/Feb12/2021)

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