ECONOMYNEXT – Sri Lanka shares closed down 1.84 p.c on Wednesday dragged by financials, because the market continued a pull-back, brokers mentioned.
“We noticed one other large decline available in the market,” Dimantha Mathew, Chief Analysis and Technique Officer at First Capital Holdings PLC, informed EconomyNext.
“Shopping for curiosity is fairly weak.”
The broader ASPI closed down 1.84 p.c, or 297.05 factors, at 15,870.25; whereas the extra liquid S&P SL20 Index closed down 1.40 p.c, or 67.51 factors, at 4,759.70.
Shares fell amid comparatively skinny turnover, brokers mentioned.
There was a turnover of two.3 billion rupees within the session.
The indices steeply declined in the course of the early morning buying and selling adopted by a little bit of volatility earlier than closing down.
“We’re seeing a major stage of profitability within the banks. After the debt restructuring traders have been ready for big dividends.”
“Since these (dividends) are introduced and completed a lot of the traders are reserving the revenue.”
Banks noticed an inflow of investor curiosity following the finalization of debt restructuring in mid-December.
Nevertheless, following the bulletins of quarterly outcomes and dividends, investor curiosity continues to maneuver from financials.
“Banks are bringing the general market down.”
Prime adverse contributors to the ASPI have been Ceylinco Holdings (ended 7.4 p.c weaker at 3,510.00), DFCC Financial institution (fell 5.1 at 108.00), HNB (down 1.8 p.c at 310.00), Sampath Financial institution (closed down 1.9 p.c at 118.50) and Business Financial institution (fell 1.9 p.c at 142.75).
“80% of the turnover is pushed by banks,” Mathew mentioned.
The very best turnover was seen in banking shares (982 million rupees) adopted by capital items (406 million rupees).
“Some margin promoting may be seen. There’s additionally panic promoting available in the market.”
HNB noticed volumes of (228 million rupees) and John Keells Holdings (96 million rupees).
Sri Lanka’s HNB Finance is trying to increase 1.19 billion rupees in proper points to enhance the capital adequacy ratio of the corporate.
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Sri Lanka’s HNB Finance to lift 1.19bn in proper points
Most lively volumes have been seen in Browns Investments at 11,663,173 (turnover 90,051,687.50 rupees), John Keells Holdings at 7,707,791 (turnover 161,936,527.40 rupees), Dialog Axiata at 7,263,682 (turnover 98,115,294.50 rupees) and Nationwide Lanka Finance at 5,138,377 (turnover 1,027,704.90 rupees).
There was a web international outflow of 109 million rupees.(Colombo/Mar04/2025)
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