Sri Lanka stocks down 1.1-pct amid record Rs23bn turnover

ECONOMYNEXT – Sri Lanka’s stocks fell 1.17 percent on Monday with with buyers trimming credit funded positions and taking profits, while LOLC Holdings, which has a micro finance unit in Myanmar coming under selling pressure on a coup in the country, brokers said.

Sri Lanka’s benchmark All Share Index fell l 101.00 points to close at 8,567.07.

The S&P SL20 index of more liquid stocks fell 2.21 percent or 77.57 points to close at 3,436.61.

A regulator request for information on clients who had been given credit over the market’s 3-day settlement period and queries on net capital requirements had also made some punters trim their positions, market participants said.

In early trade LOLC Holdings fell to 485 rupees, as news of a coup in Myanmar broke before recovering to close at 503.75 rupees, down 9.00 rupees.

Browns & Company, an LOLC unit linked to investor Ishara Nanayakkara, bought 2.095 billion ordinary voting shares of Browns Investments PLC at a price of 6.40 rupees per share from a connected firm.

Brown & Company PLC said its stake in BIL rose to 60.40 percent from 46.06 percent.

Turnover hit a record 23.5 billion rupees Monday a Browns transfer which was worth 13.41 billion rupees.

Browns Investments closed flat at 6.70 rupees a share while Brown and Company fell 10.75 rupees to close at 220.00 rupees.

LOLC Development Finance, a part of LOLC holdings, fell 16.75 rupees to 105.00 rupees a share.

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John Keells Holdings gain 1.50 rupees to close at 168.50 rupees, with a market capital of 222.2 billion rupees.

Vallibel One, controlled by DhammikaPerera closed 1.95 percent or 1.60 rupees down at 80.30 rupees. LB Finance gained 2.50 rupees to close at 300.00 rupees.

Hayleys Plc, fell 30.50 rupees to close at 741.50 rupees a share with key subsidiaries Dipped Products falling 14.00 rupees to close at 689.00 rupees and Haycarb Plc fell 10.25 rupees to close at 1,185.75 rupees.

The Kingsbury Plc another subsidiary of Hayleys group closed 80 cents at 12.70 rupees.

Royal Ceramic Lanka closed 15.50 percent down at 383.00 rupees and Lanka Ceramic closed 4.50 rupees down at 185.50 rupees.

Hatton National Bank closed 5.500 rupees down at 150.75 rupees, Commercial Bank of Ceylon fell 3.40 rupees to close at 96.30 rupees, DFCC Bank closed 2.20 rupees down at 71.90 rupees and Sampath
bank closed 6.25 rupees down at 195.25 rupees.

Nations Trust Bank fell 1.00 rupees to close at 63.10 rupees and Seylan Bank fell 1.20 rupees to close at 56.50 rupees while Pan Asia Banking Corporation fell 30 cents to close at 20.00 rupees.

Central Finance Company gained 9.00 rupees to close at 125.50 rupees, Alliance Finance Company gained 40 cents to close at 56.50 rupees and Citizens Development Business Finance fell 9.75 rupees to close at 119.75 rupees.

Sinhaputhra Finance closed 50 cents down at 8.00 rupees a share, Housing Development Finance fell 1.00 rupees to close at 42.10 rupees while Softlogic finance closed 60 cents up at 15.00 rupees a share.

Cargills Ceylon gained 25 cents to close at 240.25 rupees, Hemas Holdings fell 2.60 rupees to 94.00 rupees, Distilleries Company fell 40 cents to close at 22.60 rupees and Melstacorp fell 3.10 rupees a share to close at 63.60 rupees.

In the hotel sector Eden Hotel Lanka closed 30 cents up at 12.50 rupees and John Keels Hotels closed 10 cents up at 11.10 rupees a share Sigiriya Village hotel closed 10 cents down at 39.30 rupees and Aitken Spence Hotel holdings fell 1.30 rupees to close at 34.00 rupees.

Ceylon Tobacco Company gained 14.25 rupees to close at 1,119.75 rupees, Ceylon Cold stores closed 3.75 rupees down at 706.00 rupees.

Nestle Lanka closed 43.75 rupees up at 1,296.25 rupees while Aitken Spence Plc closed 5.10 rupees down at 69.60 rupees.

Sri Lanka Telecom closed 1.50 rupees down at 37.50 rupees, Dialog Axiata closed 10 cents down at 12.60 rupees while Richard Pieris Company closed 20 cents down at 16.00 rupees.

EB Creasy and Company fell 146.75 rupees to close at 6,131.25 rupees. Carson Cumberbatch gained 11.25 rupees to close at 361.25 rupees while Access Engineering fell 60 cents to close at 28.40 rupees.

The Food, Beverage and Tobacco Industry was the most active, gained 0.02 percent and Diversified Financial Industry which was also active fell 1.7 percent today. (Colombo/Feb01/2021)

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