Sri Lanka stocks close down

stocks-down-lbo

Mar 11, 2020 (LBO) – Following global markets, the Colombo Bourse took an expected beating Tuesday with both indices tumbling heavily during the initial ten minutes of trading.

With the S&P SL20 index succumbing to a 5% drop at the initial hour, a trading halt was imposed for half an hour.

Although, the initial panic mode settled in as the day progressed both indices stayed in red with the ASPI and S&P SL20 index closing 221.24 (-4.14%) and 117.86 points (-4.75%) respectively.

Heavy price declines were seen on CCS, JKH, CTC and DIAL which weighed on both indices during the day.

LION was the single highest contributor to turnover today with a contribution of ~40% while JKH followed with ~17%. JKH saw the highest net foreign selling of LKR 168mn, while the stock plunged LKR 7.10 to close at LKR 133.

Foreigners were net sellers of LKR 286mn, with foreign selling amounting to 64% of turnover for the day.

GRAN saw the highest foreign buying of LKR 3.76mn. Price losers escalated to 179 while 19 price gainers were registered for the day.