Sri Lanka stocks down almost 9-pct this year

ECONOMYNEXT – Sri Lanka’s stock market slide deepened Tuesday with the benchmark index having fallen almost 8.9 percent so far this year, wiping out 256 billion rupees in market value, brokers said.

The All Share Price Index lost 41.37 points (0.65 percent) to end at 6,283.24 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, fell 23.06 points (0.70 percent) to close at 3,261.30.

Daily market turnover was a low 766 million rupees, according to Colombo Stock Exchange data.

The ASPI, down at a 19-onth low, has shed 611.26 points since the beginning of the year with market capitalisation falling to 2,682.0 billion rupees, down 256 billion rupees.

During 2015, the ASPI lost 404.45 index points or 5.5%, compared with the 23.4 percent gain in 2014.

Stock brokers blamed rising interest rates, selling to settle margin trading and uncertainty for the slide.
 (Colombo/January 19, 2016)

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