Sri Lanka stocks plunge 0.9-pct

Feb 24, 2014 (LBO) – Sri Lanka stocks plunge 0.91 percent Monday continuing the downward trend with losses in the tobacco and diversified stocks, brokers said. Bukit Darah ended 15.00 rupees lower at 560.00 rupees and Commercial Leasing and Finance closed 20 cents lower at 3.90 rupees.

Nestle Lanka ended 20.90 rupees lower at 2,000.00 rupees and Distilleries closed 1.00 rupee lower at 207.00 rupees.

Commercial Bank closed 40 cents lower at 114.50 rupees and Lanka Orix Leasing Company closed 80 cents higher at 75.00 rupees.

Dialog closed 10 cents lower at 9.10 rupees and Sri Lanka Telecom closed 90 cents higher at 42.90 rupees.

The Colombo benchmark All Share Price Index closed 54.23 points lower at 5,883.05, down 0.91 percent. The S&P SL20 closed 29.82 points lower at 3,208.00, down 0.92 percent.

Turnover was 499.40 million rupees, down from 1.07 billion rupees last Friday, with stocks of 116 firms closing in the red against 53 gainers.

Index heavy JKH topped the turnover list with 154.25 million rupees of market transactions contributing to 31 percent of the daily turnover.

The aggregate value of all off market deals only accounted for 12 percent of the daily market turnover.

JKH shares and warrants also attracted most number of trades during the day.

Foreigners bought 145.81 million rupees worth shares while selling 169.93 million rupees of shares.

Ceylon Tobacco Company closed 38.00 rupees lower at 1,119.60 rupees and JKH closed 3.30 rupees lower at 209.00 rupees, contributing most to the index drop.

JKH’s W0022 warrants closed 1.60 rupees higher at 58.00 rupees and its W0023 warrants closed 10 cents higher at 61.10 rupees.