Sri Lanka stocks fall on diversified financials

ECONOMYNEXT- Sri Lanka’s stocks fell 0.14 percent on Thursday, dragged down by non-bank financial firms, provisional data showed.

The All Share Price Index (ASPI) at the Colombo Stock Exchange closed 8.58 points down at 5,927.72

The index reached a high of 5,941.84 in the first hour of trading, and fell to a low of 5,921.08 amid volatility, before recovering slightly towards the end of day.

The S&P SL20 of more liquid stocks closed 0.23 percent or 6.40 points up at 2,836.60.

Market turnover was 897.34 million rupees, while 46 stocks gained and 66 fell.

LOLC Holdings, a non-bank financial firm, closed 3.40 rupees up at 153.50 rupees a share, contributing most to the ASPI fall.

The diversified financials industry group fell 1.31 percent on Thursday.

Melstacorp closed 80 cents down at 39 rupees a share and Trade finance and investment closed 13.40 rupees down at 47.80 rupees a share, also dragging down the ASPI.

A 98 million rupee negotiated trade (crossing) was seen in Sampath bank at 164 rupees a share and the stock closed at 164 rupees a share.

A 119 million rupee crossing was seen in Commercial Bank of Ceylon at 92 rupees a share and the stock closed flat at 92 rupees a share while a 54 million rupee crossing was seen in Nations Trust Bank at 78 rupees a share and the stock closed flat at 78 rupees a share.

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A 48 million rupee crossing was also seen in Hatton National Bank at 161 rupees a share and the stock close at 162 rupees a share. (Colombo/Jan 30/2020)

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