ECONOMYNEXT – Sri Lanka stocks fell 3.53 percent on Tuesday with index heavy, LOLC group, Vallibel and John Keells Holdings seeing selling, brokers said.
Turnover was 2.8 billion rupees with 18 stocks gaining and 185 falling.
Stocks have lost about 584 billion rupees in value over February after rising steeply in January amid low interest rates and excess liquidity. Foreign selling so far this year had been about 12 billion rupees, amid macro worries.
The Colombo benchmark All Share Price Index fell 268.30 points to close at 7,329.21.
The market rallied shortly after opening but fell in intra-day as a trading halt was triggered amid weak sentiment, brokers said.
The S&P SL20 index of more liquid stocks fell 4.34 percent or 131.42 points to close at 3,898.37.
LOLC Holdings fell 12.75 rupees to close at 364.00 rupees.
LOLC Finance, fell 30 cents to close at 6.60 rupees, Browns and Company fell 12.25 rupees to close at 170.00 rupees and Browns investments closed 40 cents down at 5.40 rupees.
Expolanka fell 3.80 rupees to close at 40.50 rupees and Melstacorp Holdings closed 2.60 rupees down at 47.30 rupees a share.
John Keells Holdings fell 4.75 rupees to close at 151.25 rupees andVallibel One fell 6.00 rupees to close at 52.00 rupees.
Hayleys Plc closed 5.50 rupees down at 60.50 rupees with key subsidiaries Dipped Products falling 6.60 rupees to close at 49.20 rupees and Haycarb Plc falling 7.40 rupees to close at 99.10 rupees.
The Kingsbury Plc closed 30 cents down at 11.00 rupees while Singer Industries Ceylon closed 5.70 rupees up at 97.70 rupees.
Ceylon Tobacco Company closed 9.70 rupees down at 1,057.00 rupees, Ceylon Cold stores closed 23.00 rupees down at 639.50 rupees and Piramal Glass Ceylon closed 30 cents down at 9.50 rupees.
Royal Ceramic Lanka closed 33.00 rupees down at 280.75 rupees, Lanka tiles fell26.50 to close at 200.00 rupees, Lanka Walltiles closed 29.50 rupees down at 194.50 rupees and Lanka Ceramic closed
1.25 rupees down at 128.75 rupees.
Hatton National Bank closed 3.50 rupees down at 132.25 rupees and Commercial Bank of Ceylon closed 3.00 rupees down at 86.00 rupees.
DFCC Bank closed 1.80 rupees down at 61.60 rupees, Sampath bank closed 3.75 rupees up at 154.50 rupees and Nations trust bank fell 1.00 rupee to close at 57.60 rupees.
Seylan Bank closed 80 cents down at 49.60 rupees and Pan Asia Banking Corporation fell 1.10 rupees to
close at 16.90 rupees.
Central Finance Company fell 3.50 rupees to close at 91.40 rupees, Citizens Development Business Finance fell 6.50 rupees to close at 110.00 rupees while Alliance Finance Company gained 10 cents to close at 50.70 rupees.
Softlogic finance closed 30 cents down at 10.20 rupees, Housing Development Finance fell1.50 rupees to close at 37.20 rupees and Sinhaputhra Finance closed 30 cents down at 7.50 rupees.
Cargills Ceylon fell 3.75 rupees to close at 230.25 rupees, Distilleries Company fell 70 cents to close at 20.00, Hemas Holdings fell 4.60 rupees to close at 80.40 rupees and Ceylon Grain Elevators fell 10.75 rupees to close at 122.75 rupees.
In the hotel sector Eden Hotel Lanka closed 10 cents down at 10.40 rupees, Sigiriya Village hotel closed 40 cents down at 33.10 rupees, Aitken Spence Hotel holdings fell 1.00 rupee to close at 30.00 rupees and John Keels Hotels closed 10 cents down at 10.50.
Carson Cumberbatch closed flat at 281.25 rupees while Access Engineering fell1.50 rupees to close at 23.50 rupees.
Nestle Lanka closed 7.50 rupees down at 1,180.25 rupees while Aitken Spence Plc closed 1.20 rupees down at 58.80 rupees.
Sri Lanka Telecom closed 30 cents down at 34.80 rupees, Richard Pieris and Company closed 1.00
rupee down at 16.00 rupees and Dialog Axiata closed 20 cents down at 12.70 rupees.
The Materials Industry was the most active, fell 6.5 percent today. (Colombo/Feb 23/2021)