Sri Lanka stocks down 1.6-pct, banks gain

ECONOMYNEXT – Sri Lanka stocks fell 1.63 percent on Friday, with investors taking profits on several high flyers with some early earnings were below expectations, but banks and finance companies continued to rise, brokers said.

Colombo’s All share price index fell 1 143.94 points to close at 8,668.07.

The S&P SL20 index of more liquid stocks gained 0.25 percent or 8.85 points to close at 3,514.18.

Turnover was 13.4 billion rupees with 48 stocks gaining and 181 falling.

Expolanka Holdings, closed 5.40 rupees or 9.66 percent down at 50.50 rupees contributing most for the ASPI fall. The firm reported earnings of 4.5 billion rupees in December quarter, up 15 fold from a year earlier. The firm reported the levels of profits in the previous quarter.

John Keells Holdings fell 4.25 rupees to close at 167.00 rupees. On Wednesday the JKH said profits fell 59 percent in the December quarter.

EB Creasy and Company gained 63.00 rupees to close at 6,278.200 rupees.

Sampath Bank closed 34.75 rupees up or 20.84 percent up at 201.50 rupees arresting the ASPI fall and Hatton National Bank closed 7.25 rupees up at 155.75 rupees and Pan Asia Banking Corporation gained 2.30 rupees to close at 20.30 rupees.

Commercial Bank of Ceylon fell 10 cents to close at 99.70 rupees, DFCC Bank closed 40 cents down at 74.10 rupees, Nations trust bank fell 10 cents to close at 64.10 and Seylan Bank fell 1.60 rupees to 57.70.

Central Finance Company was up 3.50 rupees at 116.50 rupees and Citizens Development Business Finance gained 4.75 rupees to close at 129.50 rupees.

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Vallibel One gained 10.20 rupees to close at 81.90 rupees and Vallibel Finance gained 3.75 rupees to close at 159.50 rupees.

LB Finance fell 23.00 rupees to close at 297.50 rupees, losing some the weeks gains. Alliance Finance fell 10 cents to close at 56.10 rupees ashare.

Browns investments closed 20 cents down at 6.70 rupees a share.

LOLC Holdings fell 8.50 rupees to close at 512.75 rupees a share, and LOLC Finance closed 60 cents down at 7.60 rupees a share. Brown and Company fell 28.50 rupees to close at 230.75 rupees.

Royal Ceramic Lanka closed 22.75 rupees down at 398.50 and Lanka Ceramic closed 28.50 rupees down at 190.00 rupees.

Hayleys Plc, fell 30.25 rupees to close at 772.00 rupees a share with key subsidiaries Dipped Products also falling 39.25 rupees to close at 703.00 rupees and Haycarb Plc falling 85.25 rupees to close at 1,196.00 rupees.

The Kingsbury Plc another subsidiary of Hayleys group closed 50 cents down at 13.50 rupees.

In the hotel sector Eden Hotel Lanka was flat at 12.80 rupees and Sigiriya Village hotel closed 70 cents down at 39.40 rupees and John Keels Hotels closed 10 cents down at 11.00 rupees while Aitken Spence Hotel holdings gained 20 cents to close at 35.30 rupees.

Aitken Spence Plc closed 4.10 rupees up at 74.70 rupees.

Sri Lanka Telecom closed 60 cents down at 39.00 rupees and Dialog Axiata closed 20 cents down at
12.70.

Melstacorp Plc closed 1.90 rupees down at 66.70 rupees and Richard Pieris Company 80 cents down at 16.20 rupees.

Ceylon Tobacco Company fell 17.00 rupees to close at 1,103.00 rupees, Distilleries Company fell 40 cents to close at 23.70 rupees and Ceylon Cold stores closed 15.00 rupees down at 710.00 rupees.

Nestle Lanka closed 13.75 rupees down at 1,252.50 rupee, Carson Cumberbatch fell 19.50 rupees to close at 350.00 rupees and Hemas Holdings closed 1.60 rupee down at 96.60 rupees.

Access Engineering fell 90 cents to close at 29.00 rupees. (Colombo/January 29/2021)

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