Sri Lanka’s stocks close 0.12-pct lower, heavy crossings for third straight day

ECONOMYNEXT – Sri Lanka’s stocks closed 0.17 percent lower on Tuesday with crossings continuing to dominate trade for the third consecutive day, provisional data showed.   

Colombo’s All Share Price Index closed 9.33 points lower at 5,375.60. The benchmark index closed the morning session after reaching a daily low of 5,380.30 and reached a daily high of 5,391.36. a half hour before trading close, tumbling towards the end of the day.

The S&P SL20 index of more liquid stocks closed 0.13 percent or 3.10 points up at 2,515.34.

Nestlé Lanka stock closed 36.90 rupees down at 1,463.60 rupees a share, contributing most to the ASPI fall.

Distilleries Company of Sri Lanka share closed 40 cents lower at 15 rupees a share, and Hemas Holdings closed 2.80 rupees down at 65.10 rupees a share, also contributing to the benchmark index fall. 

Index-heavy John Keells Holdings closed 1 rupee up at 140.00 rupees a share.

The market turnover was 1.1 billion rupees with 53 stock prices rising and 60 falling. 

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Moderate foreign activity saw net outflows of 106.3 million rupees from the market.

Three crossings accounted for just over 60 percent of the daily market turnover.

Half the daily turnover was from a crossing in E B Creasy & Company.

The firm said in a filing that one of its largest shareholders, T. Senthilverl, had sold the shares from his personal account. The buyer was Senthilverl Holdings, in which the investor is a director.

Two other crossings were in East West Properties. 

Crossings on Friday and Monday which dominated trade also featured sales by Senthilverl to Senthilverl Holdings, according to filings at the Colombo Stock Exchange. (COLOMBO, 18 June, 2019- Updated at 16:55 with foreign sales, finalized market data)