Sri Lanka stocks extend losses falling 2.9-pct

ECONOMYNEXT – Sri Lanka stocks extended losses falling 2.90 percent on Wednesday, with several high flying stocks linked to the LOLC and Hayleys groups losing ground amid weak sentiment and less than expected profits, brokers said.

Colombo’s benchmark All Share Price Index fell 231.34 points to close at 7,732.43 after falling 1.8 percent on Tuesday.

Stock gained in mid-morning trade with the index reaching 8,002 in the first hour of trading before selling came in, broker said.

The S&P SL20 index of more liquid stocks fell2.52percent or 80.01 points to close at 3,089.91.

The market turnover was 5.1 billion rupees with 22 stocks gaining and 189 falling.

Hayleys Plc, fell 66.00 rupee to close at 680.50 rupees a share with key subsidiaries Dipped Products falling 53.50 rupees to close at 665.00 rupees and Haycarb Plc falling 389.75 rupees to close at 1,109.25 rupees.

Haycarb reported earnings of 23.53 rupees per share up from 16.54 rupees a year earlier, but were less than expected by some market participants.

The Kingsbury Plc closed 60 cents down at 12.10 rupees while Unisys Engineering closed 40 cents down at 16.40 rupees, Hayleys Fabrics fell 2.60 rupees to close at 32.80 rupees and Singer Industries Ceylon closed 50 cents up at 93.00 rupees.

Royal Ceramic Lanka closed17.50 rupees down at 294.25 rupees, Lanka tiles fell 24.00 rupees to close at 200.25 rupees, Lanka Walltiles closed 27.25 rupees down at 202.50 rupees and Lanka Ceramic closed 19.25 rupees down at 145.75 rupees.

LOLC Holdingsfell 15.00 rupees to close at 407.75 rupees, LOLC Finance, a part of LOLC, gained 60 cents to close at 6.80 rupees. Brown and Company fell 8.00 rupees to close at 178.50 rupees.

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VallibelOne fell 4.80 rupees to close at 56.70 rupees a share and Browns investments fell 50 cents to close at 5.50 rupees.

John Keells Holdings gained 75 cents to close at 154.75 rupees.

Hatton National Bank closed 3.00 rupees down at 139.25 rupees, Commercial Bank of Ceylon fell 30 cents to close at 87.50 rupees, DFCC Bank closed 40 cents down at 64.00 rupees and Sampath Bank closed 3.75 rupees down at 163.75 rupees.

Nations trust bank fell 1.00 rupees to close at 59.70 rupees and Seylan Bank fell 1.90 rupees toclose at 52.80 rupees and Pan Asia Banking Corporation fell 40 cents to close at 17.10 rupees.

Central Finance Company fell 1.50 cents to close at 114.00 rupees, Alliance Finance Companyfell 3.40 rupees to close at 51.20 rupees while Citizens Development Business Finance gained 6.75 rupeesto close at 120.50 rupees.

Sinhaputhra Finance closed 6.00 rupees down at 108.00 rupees a share and Softlogic Finance closed 10 cents down at 11.20rupees a share and Housing DevelopmentFinance fell 1.10 rupees to close at 40.50 rupees.

Cargills Ceylon gained 2.75 rupees a share to close at 235.00 rupees while Hemas Holdings fell 1.00 rupeesto 89.00 rupees, Distilleries Company fell 40 cents to close at 20.00 rupees and Melstacorp fell5.40 rupees a share to close at 52.20 rupees andCeylon Grain Elevators fell 8.50 rupees to close at 151.75 rupees.

In the hotel sector Eden Hotel Lanka fell 80 cents to close at 10.90 rupees while Sigiriya Village hotel closed 3.60 at 36.30 rupees, John Keels Hotelsclosed flat at 11.10 rupees a share andAitken Spence Hotel holdings fell 1.30 cents to close at 32.00 rupees.

Expolanka Holdings closed 2.50 rupees down at 49.20 rupees a share.

Ceylon Tobacco Company fell 4.75 rupees to close at 1,100.25 rupees and Piramal Class Ceylon closed 20 cents down at 9.40 rupees and Ceylon Cold storesclosed 14.25 rupees down at 674.75 rupees.

Carson Cumberbatch fell 10.00 rupees to close at 398.25 rupees while Access Engineering fell 30cents to close at 25.30 rupees.

Nestle Lanka closed 19.50 rupees down at 1,170.00 rupees and Aitken Spence Plc closed 60centsdown at 64.20 rupees.

Sunshine Holdings fell 8.00 rupees to close at 80.00 rupees a share.

Richard Pieris and Company closed 30 cents down at 14.60 rupees.

Sri Lanka Telecom closed 80 cents down at 36.10 rupees and Dialog Axiata closed 10 cents up at 12.20 rupees.

TheMaterialsIndustry was the most active, fell8.8 percent andCapital Goods Industry which was also active fell 3.3 percent today. (Colombo/Feb 10/2021)

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