ECONOMYNEXT – Sri Lanka stocks closed down 1.96 percent on Tuesday dragged by financials, as the market continued a pull-back, brokers said.
The broader ASPI closed down 1.96 percent, or 326.72 points, at 16,345.01; while the more liquid S&P SL20 Index closed down 2.05 percent, or 102.26 points, at 4,897.31.
Stocks fell amid relatively thin turnover, brokers said.
There was a turnover of 2.3 billion rupees in the session.
The indices have gradually declined throughout the session with a bit volatility seen during midday trading.
Following the announcements of quarterly results and dividends, investor interest continues to move from financials, analysts said.
Banks have reported sharply higher earnings amid sovereign bond provision reversals, but not all banks have reported healthy net income growth.
Sampath Bank closed 1.0 percent weaker at 120.50 rupees, DFCC Bank closed down 0.4 percent at 120.00 rupees, NDB fell 1.3 percent to 116.75 rupees and Nation’s Trust Bank down 2.4 percent to 202.00.
Nation’s Trust Bank had reported an 128 percent gain in profits in the December quarter.
Read more –
Sri Lanka’s NTB profits up 128-pct in Dec quarter provision reversals
The highest turnover was seen in banking stocks (685 million rupees) followed by capital goods (449 million rupees) and food, beverage and tobacco (360 million rupees).
HNB saw volumes of (197 million rupees), Access Engineering ( 46 million rupees) and Browns Invesments (107 million rupees) were high.
Most active volumes were seen in National Lanka Finance at 59,003,740 (turnover 11,801,740.80 rupees), Browns Investments at 13,428,391 (turnover 107,065,619.30 rupees), John Keells Holdings 7,418,677 (turnover 162,634,036.80 rupees) and First Capital at 3,367,995 (turnover 150,364,002.30 rupees).
Top negative contributors to the ASPI were Ceylinco Holdings (ended 5.1 percent weaker at 3603.00), Commercial Bank (fell 3.3 at 145.00), HNB (down 2.8 percent at 318.50), Melstacorp (closed down 2.5 percent at 135.00) and LOLC Holdings (fell 2.7 percent at 650.25).
There was a net foreign outflow of 64 million rupees.(Colombo/Feb25/2025)
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