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Sri Lankan stocks end down 0.7-pct

COLOMBO (EconomyNext) – Sri Lankan stocks slid further Thursday for the fourth straight day as bearish investors continued their selling spree that has brought the bourse down almost six percent this year, brokers said.

The All Share Price Index shed 50.20 points (0.72 percent) to close at 6922.83 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, lost 30.49 points (0.77 percent) to close at 3930.82.

Turnover was 1.1 billion rupees with Nations Trust Bank the top contributor, a single crossing or off-the-floor negotiated deal of four million shares at 104.00 generating 423 million rupees.

There were also deals in John Keells Holdings, Seylan Bank, Citizen Development Business Finance and Hatton National Bank.

SC Securities said the ASPI has fallen 5.8 percent this year while S&P SL 20 is down 4.4 percent.

"Foreign institutional investors were net sellers of 210 million rupees worth of shares," they said.

Lanka Securities said Access Engineering, Sanasa Development Bank and Sierra Cables were among heavily traded stocks.

Access Engineering touched new 52-week low price of 20.00 but closed higher at 20.20 rupees, down 1.5 percent.

Vallibel Finance’s debenture issue of a billion rupees was oversubscribed within few hours of opening.
 

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