Sri Lankan stocks slump again

ECONOMYNEXT – Sri Lankan stocks slumped again on Monday after a brief recovery last week, with price falls in index heavyweights dragging down the indices and foreigners turned net sellers.

The benchmark All Share Price Index ended at 6,420.53, down 15.75 points or 0.24 percent, while the more liquid S&P SL20 fell 7.03 points or 0.19 percent to close at 3,698.99. Turnover was a low 323 million rupees.

SC Securities said the market was dragged down by falls in prices of John Keells Holdings, Sri Lanka Telecom, Dialog Axiata, The Bukit Darah and Nestle Lanka.

“Foreigners took the position of net sellers for the day, with a net foreign outflow of 36 million rupees for the day,” they said.

The ASPI is up 3.1 percent so far this year, while the S&P is up 5.8 percent.
(COLOMBO, August 21, 2017)

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