Sri Lanka stocks end 5-day rally

ECONOMYNEXT- Sri Lanka’s stocks closed marginally lower on Tuesday, dragged down by Sri Lanka Telecom, Ceylon Tobacco Company and LOLC Holdings, provisional data showed.

The All Share Price Index (ASPI) closed 0.24 points down at 6,214.99. The ASPI, which reached an intra-day high of 6,228.77 in the first half hour of trading, fell to a low of 6,203.56 in mid-afternoon, before recovering towards end of trade.

The S&P SL20 Index of more liquid stocks closed 0.13 percent or 3.86 points down at 3,049.48.

Market turnover was 946.6 million rupees, with 69 stock prices rising and 88 falling.

The state telco Sri Lanka Telecom closed 80 cents down at 32.30 rupees a share, while the tobacco monopoly Ceylon Tobacco Company closed 7.30 rupees down at 1,132 rupees a share and LOLC Holdings closed 2.50 rupees down at 115 rupees a share, contributing to the ASPI fall.

The index was buoyed by overseas plantation firm Bukit Darah which closed 20 rupees up at 240 rupees a share, Central Finance which ended 6.90 rupees up at 107.90 rupees a share and index-heavy John Keells Holdings up 1.10 rupees to 170.10 rupees a share.

There was a 79.11 million rupee crossing in Central Finance at 107 rupees a share. (Colombo/Dec03/2019)