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Sri Lanka stocks retreat for fourth day

ECONOMYNEXT– Sri Lanka stocks closed 0.14 percent lower on volatile trade, dragged down by Commercial Bank, provisional data showed.

The All Share Price Index (ASPI) closed 8.07 points down at 5,932.92, retreating for the fourth day and closing the week down from 5,987.55.

The index was volatile throughout the day and hit a high of 5,948.43 in the first half hour of trading and a low of 5,924.16 in the final half hour of the day.

The S&P SL20 Index of most liquid stocks closed 0.58 percent or 16.16 points down at 2,791.06.

The day’s turnover was 600 million rupees.

A negotiated trade (crossing) was witnessed in the processed food maker Ceylon Cold Stores (CCS), generating 395 million rupees in turnover.

The crossing was at 798.90 rupees a share, and CCS closed 9.80 rupees down at 790 rupees a share.

Prices of 40 stocks gained and 83 fell.

Commercial Bank closed 2.10 rupees down at 89.90 rupees a share,
contributing most to the ASPI’s fall.

John Keells Holdings, which closed 90 cents or 0.55 percent down at 163.10 rupees a share and its subsidiary CCS were also among the top stocks pushing the ASPI down.

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Meanwhile, Nestle Lanka, the local unit of the multinational food and beverage group, gained 64.90 rupees or 5.26 percent to 1,299.90 rupees a share. (Colombo/Jan17/2020)

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