Sri Lankan shares fall from two-month high
COLOMBO (EconomyNext) – Sri Lankan shares fell Wednesday, ending a four-day rally and after having hit a two-month high, despite the continued rise in Treasury Bill yields, brokers said.
The All Share Price Index ended at 7,192.29, down 9.82 points (0.14%) while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, lost 5.18 points (0.13%) to end at 4,058.98.
Turnover rose to a one-month high of 1.7 billion rupees boosted by several crossings or off-the floor negotiated deals.
Lanka Securities said Commercial Bank emerged as the top contributor to turnover with two crossings of 0.6 million shares at 171.00 rupees a share.
There were deals in Union Bank, Dunamis Capital, ACL Cables and Sampath Bank.
Renuka Holdings was the most actively traded stock, hitting a high of 32.90 rupees before closing lower at 32.60, up 9.0%.
Fabric maker Textured Jersey hit a new 52-week high of 29.40 rupees before closing at 29.30, up 3.9%.
Hemas Holdings rights closed at 1.20 rupees, down 57.1% on the renunciation day.
Lanka Securities said foreign investors continued to be net sellers with a net foreign outflow of 516 million rupees for the third consecutive day.
Net foreign outflows were seen in Dunamis Capital, Union Bank and Commercial Bank while net foreign inflow was mainly seen in Hatton National Bank.