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Sri Lanka stocks extend losses falling 1.2-pct

ECONOMYNEXT – Sri Lanka stocks fell 1.27 percent on Tuesday on the back of a fall 0.5 percent fall a day earlier as investor took profits after gain last week taking cue from index heavy stock in LOLC and Vallibel group, brokers said.

Turnover was 1.98 billion rupees with 40 stocks gaining and 125 falling.

Sri Lanka stocks have been volatile in February after steep gains in January.

The Colombo benchmark All Share Price Index fell 94.75 points to close at 7,343.38.

The market reached an intraday high of 7,456.58 during the first hour into trading.

The S&P SL20 index of more liquid stocks fell 1.84 percent or 54.53 points to close at 2,909.77.

LOLC Holdings fell 10.25 rupees to close at 349.25 rupees contributing most for the ASPI fall.

LOLC Finance, fell 30 cents to close at 6.30 rupees, Browns and Company fell 2.00 rupees to close at 168.00 rupees and Browns Investment closed 10 cents down at 5.60 rupees.

Vallibel One fell 2.60 rupees to close at 53.50 rupees.

John Keells Holdings gained 50 cents to close at 154.00 rupees as the government announced that it will partner India’s Adani group in building a container terminal in Colombo port.

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Hayleys Plc closed 2.90 rupees down at 57.70 rupees with key subsidiaries Dipped Products falling 2.20 rupees to close at 46.80 rupees and Haycarb Plc falling 2.00 rupees to close at 97.10 rupees.

The Kingsbury Plc closed 40 cents up at 11.90 rupees and Singer Industries Ceylon closed 4.10 rupees up at 99.00 rupees.

Distilleries Company fell 90 cents to close at 20.00, Ceylon Grain Elevators fell 1.25 rupees to close at 124.50 rupees andHemas Holdings closed 60 cents down at 82.00 rupees

Commercial Bank of Ceylon closed 1.50 rupees down at 86.80 rupees and Hatton National Bank closed 3.25 rupees down at 129.75 rupees.

DFCC Bank closed 60 centsdown at 62.10, Sampath bank closed 2.00 rupeesdown at 154.50 rupees and Nations trust bank closed 1.10 rupees down at 56.90 rupees.

Seylan Bank closed 1.10 rupeesup at 51.10 rupees while Pan Asia Banking Corporation fell 20 cents to close at 16.80 rupees and Housing Development Finance fell 50 cents to close at 37.00 rupees.

Central Finance Company fell 2.60 rupees to close at 89.10 rupees, Alliance Finance Company fell90 cents to close at 50.50 rupees and Citizens Development Business Finance closed 4.25 rupees downat 111.75 rupees.

Expolankafell 1.10 rupees to close at 46.00 rupees whileMelstacorp Holdings closed 1.80 rupees down at 47.80 rupees a share.

Royal Ceramic Lanka closed 10.00 rupees down at 270.75 rupees, Lanka tiles fell 4.25 to close at 196.00 rupees and Lanka Walltiles closed 50 centsdown at 207.50 rupees.

Ceylon Tobacco Company closed flat at 1,040.00 rupees, Piramal Glass Ceylon closed flat at 9.90 rupeesand Ceylon Cold stores closed 25 cents up at 642.00 rupees.

In the hotel sector Eden Hotel Lanka closed flat at 10.70 rupees, Sigiriya Village hotel closed 90 cents down at 32.20 rupees, John Keels Hotels closed flat at 10.50whileAitken Spence Hotel holdings gained10 cents to close at 29.90 rupees.

Carson Cumberbatch closed 25 cents down at 274.75 rupees while Access Engineering fell 60 cents to close at 23.40 rupees.

Nestle Lanka closed 26 rupeesdown at 1,173.25 rupees while Aitken Spence Plc closed 10 cents up at 61.10 rupees.

Sri Lanka Telecom closed 10 cents down at 34.90 rupees while Richard Pieris and Company closed 60 cents up at 16.60 rupees.

The Bank Industry was the most active, fell 1.1percent today. (Colombo/March 02/2021)

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