Sri Lanka stocks end four-day rally on John Keells Holdings

ECONOMYNEXT– Sri Lanka stocks closed 0.15 percent lower on Monday ending a four-day rally, with the market dragged down by index-heavy John Keells Holdings, provisional data showed.

The All Share Price Index (ASPI) at the Colombo Stock Exchange closed 8.78 points down at 5,933.75. The Index fell to a daily low of 5,925.13 in the final hour of trading, before recovering slightly to end the day.

The S&P SL20 Index of most liquid stocks closed 0.10 percent or 2.74 points down at 2,832.61.

Market turnover was 352.34 million rupees. Prices of 82 stocks fell and 54 gained.

JKH closed 1.50 rupees or 0.93 percent down at 160.00 rupees a share contributing most to the ASPI’s fall.

LOLC Holdings closed 2.20 rupees or 1.47 percent lower at 147.80 rupees a share while Cargills (Ceylon) stocks fell 3.20 rupees or 1.61 percent to close at 195.00 rupees a share also contributing to the ASPI’s decline.

Meanwhile, Nestle Lanka stocks closed 48.90 or 3.91 percent higher at 1,298.90 rupees a share, helping to arrest the ASPI’s fall. (Colombo/Feb 10/2020)