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Sri Lanka stocks slump amid foreign selling

ECONOMYNEXT – Sri Lankan stocks fell for the second day Friday amid foreign selling in large cap stocks, brokers said.

The All Share Price Index lost 28.07 points or 0.4 percent to close at 7,042.06 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, fell 24.89 points (0.7 percent) to close at 3,803.00.

Daily market turnover was 1.9 billion rupees, with 15 crossings or off-the-floor negotiated deals, brokers First Capital Equities said.

There were seven crossings in Commercial Bank of five million shares at 155 rupees each along with trades in Distilleries, Hattton National Bank, John Keells Holdings and Vidullanka.

Net foreign outflow Friday was 258 million rupees with foreign investors selling mainly Commercial Bank and JKH. Foreign investor outflow this year is 3.7 billion rupees.
 (Colombo/October 30 2015)

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