Sri Lankan shares end weaker, Hemas rights actively traded

COLOMBO (EconomyNext) – Sri Lankan shares ended weaker Monday amid continuing political uncertainty with Hemas Holdings rights that began trading the most actively traded stock, brokers said.

The All Share Price Index lost 4.66 points (0.07%) to close at 7,125.12 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, fell 2.47 points (0.06) to close at 4,020.79.

Turnover was 670 million rupees with Hemas Holdings Rights the top contributor, accounting for 17 percent of the market turnover.

“Hemas Holdings rights attracted investor interest on the first day of trading,” Lanka Securities said.

The rights traded at a high of 3.40 rupees, down 24.4% in the morning session but closed lower at 2.80, down 1.70 rupees or -38%.

Swisstek, Abans Financial Services, Softlogic Finance and ACME Holdings were among heavily traded shares with Swisstek touching a 52-week high of 54.80 rupees before closing  at 54.50.

Brokers said investors continued to be worried over political uncertainty generated by proposed constitutional reforms and looming general elections.

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