LBO Home IndoChina | About Us | To Advertise | Contact Us rss LBO Mobil rss rss rss rss rss
Sanga, only Sri Lankan player in the 2015 ICC world cup team | Australia won 2015 Cricket World Cup with a 7 wicket victory over New Zealand | Facebook to focus on three themes in 2015: Zuckerberg | Sri Lanka’s President Sirisena calls for a new thinking on Asian growth strategy | Sri Lanka to ease entry barriers for FDI: Ravi Karunanayake | Sri Lanka new rulers to get Chinese support | Sri Lanka sells $100mn of 5 year development bonds; rejects all bids at 2 and 3 years | Fitch affirms HSBC Sri Lanka branch at 'AAA(lka)'; outlook stable | Sri Lanka Freedom Party yet to decide a disciplinary action who participated pro-MR rally | Sri Lanka's President appoints a new law commission | Sri Lanka’s NDB-DFCC merger awaiting new regime’s go ahead | Ultra small computer by Intel; first look in Sri Lanka | Sri Lanka's micro-finance sector to access CRIB through a new regulation | Sri Lanka to get Chinese funded hospital for kidney patients; China to support SL on alleged human rights issues | Sri Lanka Siyapatha Finance PLC rated 'A(lka)' with a stable outlook : Rating agency | Sri Lanka’s AMW Capital Leasing and Finance upgraded to 'BBB+(lka)' : Fitch Ratings                                          
Tue, 31 March 2015 17:25:50
Sri Lanka stocks slip 0.4-pct, turnover dips
26 Nov, 2012 16:45:09
Nov 26, 2012 (LBO) - Sri Lanka's stocks closed 0.4 percent lower Monday while turnover dipped to 115 million rupees, levels not seen for three years, amid weak demand, brokers said.
The benchmark Colombo All Share Price Index closed at 5,384.8, down 22.2 points and the S&P SL20 Index closed at 2,960.01 down 7.3 points of 0.25 percent.

Turnover was 115.9 million rupees.

Turnover was at these levels in the first half of 2009, when the country was in the middle of a balance of payments crisis and in the last stages of a 30-year war. Turnover fell to 80 million rupees on April 30, 2009.

Sri Lanka is now again recovering from a balance of payments crisis, triggered by large volumes of credit taken by state enterprises to manipulate energy prices and the market is going through a correction.

There are also concerns over rule of law and property rights.

On Monday People's Finance rose 2.60 to close at 33.80 rupees. The firm is due to be merged with its larger parent People's Leasing and Finance. Brokers said the stock moved up on expectations of a mandatory offer to buy out minority shareholders.

Aitken Spence fell 3.60 rupees to 119.20, Bairaha Farms fell 5.20 to 141.00 rupees, Chevron Lubricants fell 2.50 to 189.50 rupees and Tokyo Cement rose 80 cents to close at 27.90 rupees.