Sri Lanka stocks end down 0.5-pct

EconomyNext – Sri Lankan stocks slumped Monday in somewhat subdued trade, dragged lower by losses in benchmark heavyweights with interest seen in a food products firm after it doubled December quarter profit, brokers said. 

The benchmark All Share Price Index closed at 7,300.75, down 34.76 points or 0.47 percent, while the S&P SL20 index, which tracks the top 20 largest and most liquid stocks, fell 0.85 percent (35.08 points) to end at 4,078.11.

Turnover was just 612 million rupees with a crossing or off-the-floor negotiated deal in John Keells Holdings of 148,600 shares at 214 rupees each, down 6.00 or 2.73 percent.

Soy foods maker Convenience Foods (Lanka), a unit of Ceylon Biscuits, was among the most traded stocks, gaining 3.4 percent to 310 rupees after it reported net profit for the December 2014 quarter doubled. 

The benchmark fell on losses in heavyweights like JKH and in thinly traded Bukit Darah, Sri Lanka Telecom, Lion Brewery and Carson.

Lanka Aluminium Industries was also actively traded and gained 10 percent to 68 rupees.