Sri Lanka stocks fall after 10-month high, selling in John Keells Holdings

ECONOMYNEXT- Sri Lanka stocks closed 0.29 percent lower on Monday, after reaching a near 10-month high last week, with selling in index-heavy John Keells Holdings, provisional data showed.

Colombo All Share Price Index (ASPI) closed 17.74 points down on 6,014.34.

The index reached an intra-day high of 6,041.03 in the first hour of trading before reaching a daily low of 6,007.76 in the afternoon.

The S&P SL20 Index of more liquid stocks closed 0.23 percent or 6.89 points down at 2,746.82.

Market turnover was 709 million rupees with 52 stocks gaining and 84 declining.

There was moderate foreign investor activity, with net inflows of 112.2 million rupees to the market.

John Keells plc of Sri Lanka closed 2.00 rupees down at 155.00 rupees a share, contributing most to the ASPI fall.

JKH’s profits fell in the September quarter due to a hit on its hotels from the Easter Sunday bombings, but the business is recovering, the firm said in its interim financials on Friday.

Cargills Ceylon plc fell 7.20 rupees to 187.50 rupees a share also pushing the ASPI down.

There was a negotiated trade (crossings) of up to 69 million rupees in Vidullanka at 4.60 rupees a share, and 39.5 million rupees in United Motors at 65 rupees a share. (Colombo/November 04/ 2019)

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