Sri Lanka stocks end 2.5-pct lower

ECONOMYNEXT – Sri Lanka stocks fell 2.57 percent on Monday losing the gains made last week, pushed down by LOLC Holdings, Expolanka and John Keells Holdings, Colombo Stock Exchange data showed.

Turnover was 2.3 billion rupees with 29 stocks gaining and 166 falling.

First capital market research said the turnover fell to a near 2-month low.

The Colombo benchmark All Share Price Index fell 200.43 points to close at 7,597.51.

Market participants said the market reverted to negative as a result of the Central Bank ordering exporters to covert 25 percent of foreign exchange earnings with immediate effect.

The index opened higher at 7,800.00 but continued to plunge within a few minutes in to and continued to fall throughout the day on Volatile Trading.

The S&P SL20 index of more liquid stocks down 2.21 percent or 68.33 points to close at 3,029.79.

LOLC Holdings of Ishara Nanayakkara fell 30.50 rupees or 7.49 percent to close at 376.75 rupees.

LOLC Finance, down 70 cents to close at 6.90 rupees, Browns and Company 20 rupees to close at 185.25 rupees while Browns investments closed 30 cents down at 5.80 rupees.

Commercial Leasing and Finance down 50 cents to close at 6.90 rupees.

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John Keells Holdings closed 4.00 rupees down at 156.00 rupees while Vallibel One fell 4.90 rupees to close at 58.00 rupees.

Hayleys Plc closed 4.10 rupees down at 66.00 with key subsidiaries Dipped Products falling 4.30 to close at 55.80 rupees and Haycarb Plc down 9.50 to close at 106.50 rupees.

The Kingsbury Plc closed 70 cents down at 11.30, Singer Industries Ceylon closed down 6.70 rupees at 92.00 rupees and Unisyst Engineering closed 60 cents down at 14.90 rupees.

Ceylon Tobacco Company closed 3.25 rupees down at 1,066.75, Ceylon Cold Stores flat at 653.00 while Piramal Glass Ceylon closed 20 cents down at 9.80.

Expolanka down 2.80 rupees to close at 44.30 rupees and Melstacorp Holdings closed 0.40 cents down at 49.90.

Royal Ceramic Lanka closed 10.50 rupees lower at 313.75, Lanka Tiles down 7.75 rupees to close at 226.50 rupees while Lanka Wall tiles closed 10.50 cents down at 224.00 and Lanka Ceramic closed 2.00 rupees down at 130.00 rupees.

Hatton National Bank closed 2.00 rupees down at 135.75 rupees and Commercial Bank of Ceylon closed down 1.00 rupees at 89.00 rupees.

DFCC Bank closed 1.20 rupees down at 63.40 rupees and Sampath Bank closed 1.25 cents down at 158.25 rupees while Nations Trust Bank down 40 cents to close at 58.60 rupees.

Seylan Bank closed 0.60 cents down at 50.40 and Pan Asia Banking Corporation down 10 cents to close at 18.00 rupees.

Central Finance Company down 1.20 rupees to close at 94.90 rupees and Citizens Development Business Finance closed flat at 116.50 rupees, Alliance Finance Company down 3.80 rupees to close at 50.60 rupees.

Sinhaputhra Finance closed 30 cents up at 7.80 rupees. Housing Development Finance down 1.20 rupees to close at 38.70 rupees while Softlogic finance closed 40 cents down at 13.00 rupees.

Cargills Ceylon up 0.50 cents to close at 234.00 rupees, Distilleries Company fell 50 cents to close at 20.70, Hemas Holdings fell 60 cents to close at 85.00 rupees and Ceylon Grain Elevators fell 2.25 rupees to close at 133.50 rupees.

In the hotel sector Eden Hotel Lanka closed 30 cents down at 10.50 rupees, Sigiriya Village hotel closed 1.00 rupees down at 33.50, Aitken Spence Hotel Holdings flat at 31.00 and John Keels Hotels closed 40 cents down at 10.60 rupees.

Carson Cumberbatch fell 5.50 rupees to close at 280.50 rupees while Access Engineering closed down at 25.00 rupees.

Nestle Lanka closed 11.75 rupees down at 1,187.75 rupees while Aitken Spence Plc closed 2.40 rupees down at 60.00 rupees.

Sri Lanka Telecom closed 1.10 rupees down at 35.10 rupees and Richard Pieris and Company closed 0.80 cents down at 17.00 rupees while Dialog Axiata closed up 50 cents to 12.90 rupees.

Net foreign purchases for the day is 42 million rupees but with low foreign participation.

The Food and Beverage sector and Materials sector jointly contributed 48 percent to the market turnover today. (Colombo/Feb22/2021)

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