Telcos pull Sri Lanka stocks down
Thursday August 8, 2019 15:54
ECONOMYNEXT – Sri Lanka’s stocks closed 0.19 percent lower on Thursday after a rally on Wednesday, with Commercial Bank and telcos pulling the market down, provisional data showed.
Colombo’s All Share Price Index (ASPI) closed 11.42 points down at 5,878.26 after reaching a daily high of 5,908 in the morning session.
The S&P SL20 Index of more liquid stocks closed 0.48 percent or 13.77 points lower at 2,885.79.
The market turnover was 468 million rupees with 49 stocks gaining and 82 stocks declining.
Commercial Bank closed 1.90 rupees down at 105.10 rupees a share, Dialog Axiata was down 20 cents to 10.70 rupees a share and Sri Lanka Telecom fell 50 cents to 28.50 rupees a share, pushing the ASPI down.
There was a 24.8 million rupee crossing (negotiated trade) in John Keells Holdings, which closed 1.90 rupees up at 148.00 rupees a share.
Tokyo Cement (TKYO) voting and non-voting stock contributed 62 percent or 176 million rupees to the turnover amid high retail activity.
The TKYO voting stock closed 60 cents up at 32.40 rupees a share and non-voting stock closed 80 cents up at 27.60 rupees a share.
TKYO returned to profits in the June quarter from losses a year earlier, according to the firm’s quarterly earnings which were published on Wednesday after market close.
(COLOMBO, 8 August 2019)