Sri Lankan stocks fall below 6,000 Points

Sri Lanka, Jan 08 (Capital Leads) – Sri Lankan stocks fell below 6,000-point mark today after nearly a month amid foreign outflows in market heavyweights, JKH and Sampath Bank.

The ASPI edged down 30.63 points to close the session at 5,992.36 points, 0.51 percent lower than the previous session, while S&P SL20 Index lost 20.25 points to reach 3,049.95 points, 0.66 percent weaker than yesterday.

The off-board transactions led the turnover generation with a contribution of 55 percent as the day’s turnover reached LKR933.0 mn (USD5.1 mn), nearly doubling the average daily turnover for the year so far.

Generating 53 percent of turnover, JKH spearheaded the company-wise contribution as the stock witnessed a crossing where 2 mn of its stock traded at LKR160.0 apiece.

Teejay Lanka, amid a crossing of 3 mn shares traded at LKR33.8 per share, made up 11 percent of the total turnover for the day.

Diversified Holdings dominated the sector-wise contribution with 57 percent, followed by banking and insurance stocks which made up 19 percent.

Heavy foreign selling was seen in JKH for the second straight session, while HNB enticed foreign investor interest, as CSE’s daily net foreign outflow reached LKR124.8 mn (USD0.7 mn), with YTD outflow rising to LKR473.4 mn (USD2.6 mn).

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