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Sri Lankan stocks slump to seven-week low

ECONOMYNEXT – Sri Lanka’s stock market slide deepened Monday, slumping to a seven-week low after the rupee’s sharp depreciation Friday but foreign investors were net buyers, brokers said.

The All Share Price Index fell below the 7,200 mark, losing 65.41 points or 0.91 percent to close at 7,149.70 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, fell 26.83 points (0.68 percent) to end at 3,931.83.

Turnover was a low 600 million rupees with crossings or off-the floor negotiated deals in Central Finance at 265 rupees a share and Ceylon Brewery at 860 rupees per share.

The benchmark index was dragged lower by losses in Dialog Axiata which closed at 11.30 rupees, down 0.9 percent), Nestle Lanka which ended at 2,010 rupees, down two percent and Hayleys which lost 7.8 percent to close at 322.60.  (Colombo/September 7 2015)

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