Sri Lanka stocks down 1.9-pct; 18 month low

Jan 18, 2016 (LBO) – Sri Lankan stocks closed down 1.89 percent following the negativity in regional markets and local economic concerns with losses in financial sector stocks, brokers said.

The Colombo benchmark All Share Price Index closed lower 121.59 points at 6,324.61 down 1.89 percent. S&P SL20 closed 60.08 points down at 3,280.05 down 1.80 percent.

Turnover was at 813 million rupees, with 14 stocks closing positive against 180 negative.

“Investors are still keeping away mainy due to local economic concerns and lack of policy direction,” Lanka Securities said.

The main index made losses in John Keells Holdings with the stock closing at 160.70 rupees, down 4.40 rupees with three off the floor trades amounting to 800,000 shares at 165.00 and 164.00 rupees.

Lanka Orix Leasing closed at 75.00 rupees, down 5.80 rupees.

Most of the banking stocks also made losses with Commercial Bank closing at 129.10 rupees, down 0.90 rupees and Sampath Bank closed at 220.00 rupees, down 9.40 rupees.