Sri Lanka stocks down 0.97-pct on profit taking
ECONOMYNEXT – Sri Lanka stocks closed 0.97 percent lower on Monday, ending a rally that lasted two weeks.
The fall in the index was owing to profit-taking, brokers said.
Colombo’s All Share Price index (ASPI) closed 55.37 points down at 5,659.77.
The S&P SL20 index of more liquid stocks closed 1.12 percent or 30.87 points lower at 2,731.17.
The market turnover dropped to 210 million rupees with 24 stocks gaining and 109 stocks declining.
John Keells Holdings closed 2.70 rupees down at 147.30 rupees a share contributing most to the fall of the ASPI.
Brokers said that the profit-taking and the selling pressure which was seen in some companies will most likely continue for a few days.
John Keells Holdings dragged the index down by 7.5 index points while Carson Cumberbatch PLC contributed to the decline by 5.46 index points.
Commercial Bank of Ceylon and Nestlé Lanka contributed mostly for the turnover having turnovers amounting to 27 million rupees and 20.5 million rupees respectively.
The number of trades were highest in Browns Investment (295 trades) and Access Engineering (166 trades).
No crossings were carried out for the day.
Carson Cumberbatch closed 13.10 rupees down at 165 rupees a share and Nestlé Lanka PLC closed 34.40 rupees down at 1,340.20 rupees a share, also pushing the ASPI down.
(COLOMBO, 22 July, 2019)