Sri Lankan stocks end weaker

COLOMBO (EconomyNext) – Sri Lankan stocks ended slightly weaker Monday in thin trade with investors staying on the sidelines amid uncertainty generated by constitutional changes and looming parliamentary polls, brokers said.

The All Share Price Index ended at 7,080.38, down 6.03 points (0.09%) while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, went up 8.04 points (0.20%) to close at 4,020.60.

Turnover was a low 494 million rupees.

Access Engineering was one of the most actively traded stocks, ending up 2.50% (60 cents) at 24.60.

The stock price of the construction firm had fallen sharply in recent weeks after the government cancelled an airport repair contract but is recovering.

Brokers said that despite a surprise policy rate cut by the central bank Wednesday April 15 after which Treasury Bill and bond yields dropped investors were worried about political uncertainty.

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