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Sri Lanka stocks plunge after Easter bombings

ECONOMYNEXT- Sri Lanka’s stock market retreated 2.62 percent in the first hour of trading on Tuesday, after markets opened following the Easter Sunday bombings.

The Colombo Stock Exchange was closed on Monday following a series of attacks across hotels and churches on Sunday.

The market opened an hour later than usual on Tuesday.

The benchmark All Share Price Index (ASPI) was 146.81 points down at 5,459.54, while the more liquid S&P SL20 Index was down 97.50 points at 2,612.77.

The market reverse was following a four-day gain, and a general upward momentum since March 27, when the ASPI had been at 5,511.77.

Market turnover was 60.46 million rupees, with 129 stock prices falling and only 2 gaining.

Sampath Bank and John Keells Holdings were the most active stock.

Sampath Bank was trading 9.90 rupees lower at 155.10 rupees a share, while JKH was trading 5 rupees lower at 147 rupees a share.

Commercial Bank was trading 5.70 rupees lower at 90.20 rupees a share.

Ceylon Tobacco Company stock was down 40 rupees to 1,300 rupees a share.

In sectors, diversified holdings fell 4.7 percent, while power and energy stock fell 3.3 percent and  services fell 3 percent.

Land and property sector stocks fell 3 percent while manufacturing stocks fell 3.6 percent.

Banks and finance stock fell 2.9 percent, while construction and engineering stock fell 2.2 percent, and beverage, food and tobacco stock fell 2 percent. (Colombo/Apr23/2019-SB)

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