ECONOMYNEXT – Sri Lanka shares closed 2.9 p.c weaker on Wednesday as a consequence of a attainable correction, with some revenue taking resulting in promoting stress, brokers stated.
“The market was down partly due to a correction, and partly as a consequence of promoting and revenue taking,” Shadini Silva, Co-Head of Analysis at Softlogic Stockbrokers instructed EconomyNext.
The ASPI closed down 2.95 p.c, or 500.39 factors, at 16,456.10; whereas the extra liquid S&P SL20 Index closed down 3.30 p.c, or 167.18 factors, at 4,898.04.
“It’s additionally outcomes quarter for many company entities, and whatever the outcomes being good or dangerous, promote orders are getting activated.”
Teejay Lanka closed 2.1 p.c weaker at 54.80, Singer (Sri Lanka) ended down 5.4 p.c to 30.10 and Ceylon Chilly shops down 1.8 p.c to 90.90.
High adverse contributors to the ASPI have been HNB (ended 3.1 p.c weaker at 333.50), Industrial Financial institution (fell 3.7 p.c at 142.25), Melstacrop (closed down 4.2 p.c at 124.50), Sampath Financial institution (fell 3.2 to 115.00) and NDB (down 5.2 p.c at 119.25).
There was investor curiosity within the capital items ( 1.2 billion rupees), insurance coverage (1.3 billion rupees), meals drinks and tobacco (1.03 billion rupees) industries within the session.
Ceylinco Holdings ended 7.8 p.c stronger at 3,342.25 and Lion Brewery was up 0.6 p.c at 1,241.75.
There was curiosity in insurance coverage and car associated shares following the carry of the import ban on autos.
“Shares with publicity to car and insurance coverage have been seeing some curiosity because of the import ban being lifted,” Silva stated.
Disel & Motor Engineering Plc closed up 1.4 p.c to 1,066.75.
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Most lively volumes have been seen in Brown Investments at 62,290,004 (turnover 541,310,996.50 rupees), John Keells Holdings at 23,174,251 (turnover 512,149,973.80 rupees), LVL Power fund at 12,222,045 (turnover 79,276,185.80 rupees) and Industrial Asphalts at 11,919,841 (turnover 4,858,405.40 rupees).
Turnover was 6.3 billion rupees, whereas the share quantity rose 98 p.c to 241,275,530.
Persevering with the downward pattern, a internet overseas outflow of 343 million rupees for the day was recorded.(Colombo/Feb05/2025)
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