Sri Lanka stocks end 3-week rally

ECONOMYNEXT – Sri Lanka stocks closed 0.37 per cent lower on Tuesday after rallying for 15-days straight while John Keells Holdings, Distilleries and Cargills (Ceylon) contributed most to All Share Price Index’s (ASPI) fall, stock exchange provisional data showed.

Colombo’s All Share Price Index fell 24.75 points to close at 6,6560.64.

The S&P SL20 index of more liquid stocks down by 1.02 per cent or 26.97 points to 2,607.87.

Turnover was 2.5 billion rupees with 56 stocks made gains and 131 made losses.

Market analysts said that they think it is some sort of a market consolidation because the market rallied for the past 3-weeks making and its the longest run seen this year amid the COVID-19 pandemic.

Hemas Holdings sold a controlling stake in Serendib Hotels Plc for 792 million rupees, to LOLC group.

Serendib Hotels is the majority shareholder of Dolphin Hotels PLC, Hotel Sigiriya PLC, Serendib Leisure Management Ltd, Frontier Capital Lanka (Pvt) Ltd and Sanctuary Resorts Lanka (Pvt) Ltd.

Hemas said it will continue to hold some leisure sector assets, including its investment in Anantara Peacehaven Tangalle Resort. It said it made this move in line with its focus to uplift return on equity from the core segments and to increase investments in Consumer, Healthcare and Mobility Sectors.

Hemas Holdings gained 50 cents to 95.30 rupees a share while LOLC Holdings fell 20 cents to 138.20 rupees a share

Net foreign sales amounted to 14.8 million rupees.

Advertisement

 

 

 

According to market observers, the foreign transaction was seen in Dialog Axiata (with 10 million rupees worth of sale) and John Keells Holdings with 26.8 million rupees worth of sales.

John Keells Holdings contributed most to ASPI’s fall, slipping 2.00 rupees to close at 151.40 rupees a share.

Distilleries Company of Sri Lanka fell 30 cents to close at 21.00 rupees a share while Cargills (Ceylon) plunged 5.00 rupees to trade at 197.80 rupees a share.

Other stocks which made losses were, Commercial Bank of Ceylon traded 1.10 rupees lower to close at 81.00 rupees a share and Hatton National Bank fell 2.70 rupees to close at 126.60 rupees a share.

Stocks that made gains were Lions Brewery Ceylon, closed 19.90 rupees up at 570.00 rupees a share, Browns Investment Plc gained 10 cents to trade at 3.70 rupees a share and EB Creasy and Company gained 564.10 rupees to close at 3,645.90 rupees a share.

The main Banking counters too recorded losses, DFCC bank fell 80 cents to close at 65.00 rupees a share while Sampath bank too fell 1.40 rupees to close at 134.50 rupees a share.

Telecos, Dialog Axiata remained flat at 12.40 rupees a share while Sri Lanka Telecom fell 30 cents to close at 33.70 rupees a share.

Diversified sector counters too made losses, with Expolanka trading 10 cents down at 25.40 rupees a share.

Capital goods counters, Softlogic Holdings fell 10 cents to trade at 12.50 rupees a share, Hayleys Plc gained 2.80 rupees to close at 391.50 rupees.

Aitken Spence Plc fell 2.40 cents to close at 59.60 rupees a share while Richard Pieris and Company plunged 30 cents to close at 15.10 rupees a share.

Food, Beverage & Tobacco Industry counters such as Nestle Lanka remained flat at 1,240 rupees a share. Ceylon Cold Stores down 20 to close at 660.00 rupees a share.

Ceylon Tobacco Company, however, gained 1.10 rupees to close at 1,012 rupees a share.

The Consumer Services industry was the most active (Colombo/December 15/2020)

Tags :

Latest Comments

Your email address will not be published. Required fields are marked *