Sri Lanka stocks end 0.38-pct lower

ECONOMYNEXT – Sri Lanka stocks closed 0.38 percent lower on Friday dragged down by the drop in Ceylon Tobacco Company stock, brokers said.

Colombo’s All Share Price index (ASPI) closed 22.64 points lower at 5,894.51.

The index started off at 5,878.26 in the start of the week and peaked at 5,949.30 on Tuesday.

However, it continued on a downward trend throughout the rest of the week and ended at 5,894.51 today.

On Friday. the index dropped significantly in the last hour of trading following selling pressure in the market, brokers said.

The S&P SL20 index of more liquid stocks closed 0.48 percent or 13.80 points higher at 2,918.39.

The market turnover was 334 million rupees with 59 stocks gaining and 71 stocks declining.

There was heavy retail activity participation with 4,875 trades done and no crossings (negotiated trades) for the day, brokers said.

Ceylon Tobacco Company closed 93.00 rupees down at 1,207.00 rupees a share contributing most to the fall of the ASPI.

Dialog Axiata closed 10 cents down at 10.70 rupees a share and Singer (Sri Lanka) closed 2.00 rupees down at 26.20 rupees a share, also pushing the ASPI down.

(COLOMBO, 16 Aug, 2019)