Sri Lankan stocks close down, block deal in Kingsbury

ECONOMYNEXT – Sri Lankan shares closed lower Thursday with turnover boosted by the sale of a stake in a hotel firm, brokers said.

The benchmark All Share Price Index closed at 5,839.04, down 41.13 points or 0.7 percent, while the more liquid SP SL20 index closed at 2,977.35, down 29.06 points or 0.97 percent.

Turnover was just over a billion rupees, half of which came from the sale of 25 million shares in The Kingsbury at 20 rupees each. The stock closed unchanged at 14.20 rupees.

Asia Securities said crossings or block deals accounted for 77 percent of the turnover with one crossing each in Sampath Bak, Ceylon Tobacco Company, and Kingsbury.

Foreign investors became net sellers with net foreign selling of 43 million rupees of shares, mainly in Sampath Bank.

Estimated net foreign buying was mainly in Overseas Realty.
(Colombo/February 21/2019-SB)

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