Sri Lanka stocks close down 0.75-pct: Near eight month low

Nov 30, 2015 (LBO) – Sri Lankan stocks closed down at 0.75 percent on Monday for a fourth consecutive day, recording the highest intra-day drop since September and closed at nearly eight month low, brokers said.

The Colombo benchmark All Share Price Index closed down 52.26 points at 6,909.15 down 0.75 percent. S&P SL20 closed 46.35 points lower at 3,657.69 down 1.25 percent.

Turnover was 754 million rupees, lower than the daily average of 1.1 billion rupees with 31 stocks closing positive against 125 negative.

The main index showed losses in John Keells Holdings closing at 180.00 rupees, down 2.5 percent and Nestle Lanka closing at 2,100.00 rupees, down 3.5 percent. 

Active trading was seen in Commercial Bank closing at 140.00 rupees, DFCC Bank closing at 160.50 rupees, National Development Bank 193.50 rupees and Amana Bank 4.70 rupees declined to 52 week low prices.

Following the listing of right shares of Janashakthi Insurance, counter stepped to a 52 week low of 17.70 rupees and the company raised 3.4 billion rupees through rights issue to finance the acquisition of AIA General Insurance.

Meanwhile, Lanka Hospitals declared an interim dividend of 1.00 per share. However, stock closed lower at 59.90 rupees, down 0.3 percent. Ceylon Printers announced that the right issue of the company has been oversubscribed.

Foreign investors closed the session on buying side with a net foreign inflow of  34 million rupees and foreign participation was 59 percent.

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Nirmalan Dhas
Nirmalan Dhas
6 years ago

…the whole undulation has moved forward by a three month interval…it seems. My bet is that the ASPI drops close to 6400 before it begins ti climb again…by which time most of the “ill gottent gains” of the pump and dumpers would have been squeezed out. Once the climb begins it will likely be sharp with a correction in November 2017.

The question then is why the three month pushback?…My guess is that the whole world has seen the deep reluctance with which the Sinhalese people approach the task of “a return to civilization and law and order”. This has led to a tough approach that ignores promises and waits for concrete deliveries to be made before responding. We are watching the “end of shape” and an opening to the global civilization of the human species…for those who want to be human.

The Modi-Mahinda cabal will of course to do all that it can in order to “resist” this “imperialism”.