Sri Lanka Stocks retreat for third day on telcos

ECONOMYNEXT- Sri Lanka stocks closed 0.57 percent lower on Wednesday, dragged down by telcos Dialog Axiata and Sri Lanka Telecom, provisional data showed.

Colombo All Share Price Index (ASPI) closed 33.91 points down on 5,956.52, retreating for the third day.

The index reached an intra-day high of 5,998.37 in the first hour of trading before reaching a daily low of 5,951.67 in the afternoon.

The S&P SL20 Index of more liquid stocks closed 0.75 percent or 22.40 points down at 2,958.70.

Market turnover was 953 million rupees with 25 stocks gaining and 110 declining.

Private telco Dialog Axiata closed 20 cents down at 12.50 rupees a share, contributing most to the fall of the ASPI.

The state-owned Sri Lanka Telecom fell 90 cents to 31.90 rupees a share while Distilleries Company of Sri Lanka fell 30 cents to 17.20 rupees a share, also pushing the ASPI down. (Colombo/November 06/2019)

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