Banks cause stocks to close down for fourth straight day

The ASPI closed in red as a result of price losses in counters such as Commercial Bank, LOLC Holdings and John Keells Holdings with turnover crossing Rs. 597 million, NDB Securities said in a statement yesterday.  

Similar behaviour was witnessed in the S&P SL20 which closed 0.61% or 17.02 points down at 2,784.83. 

High net worth and institutional investor participation was noted in Nestle Lanka, Sampath Bank, Dialog Axiata, Central Finance Company and HNB Assurance. Mixed interest was observed in John Keells Holdings and Access Engineering while retail interest was noted in Royal Ceramics. 

Furthermore, foreigners remained active, closing as net sellers. Total foreign sales accounted for 47.5% of turnover. The Food, Beverage and Tobacco sector was the top contributor to market turnover (due to Nestle Lanka) while the sector index lost 0.28%. The share price of Nestle Lanka edged up by Rs. 1 (0.08%) to close at Rs. 1,299.90. The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) while the sector index decreased by 0.22%.

The share price of John Keells Holdings recorded a loss of Rs. 0.70 (0.44%) to close at Rs. 156.90.

Sampath Bank, Dialog Axiata and Central Finance Company were also included amongst the top turnover contributors. The share price of Sampath Bank closed flat at Rs. 160.00. The share price of Dialog Axiata moved up by Rs. 0.20 (1.63%) to close at Rs. 12.50. The share price of Central Finance Company closed flat at Rs. 105.