Stocks tumble on John Keells Holdings, Distilleries

The ASPI closed in red as a result of price losses in counters such as John Keells Holdings, Distilleries and Dialog Axiata, with turnover crossing Rs. 573 million, brokers said yesterday, with similar behaviour witnessed in the S&P SL20. 

High net worth and institutional investor participation was noted with Commercial Bank, Hatton National Bank, Sampath Bank and Ceylon Tobacco Company. Mixed interest was observed in John Keells Holdings and Access Engineering while retail interest was noted in Hayleys Fabric. 

“Furthermore, foreigners remained active, closing as net sellers. Total foreign sales accounted for 50.1% of the turnover,” NDB Securities said. 

The Banks sector was the top contributor to market turnover (due to Commercial Bank, Hatton National Bank and Sampath Bank) while the sector index lost 0.61%. The share price of Commercial Bank decreased by Rs. 0.50 (0.54%) to close at Rs. 92.00. The share price of Hatton National Bank lost Rs. 1.00 (0.63%) to close at Rs. 159.00. The share price of Sampath Bank edged down by Rs. 0.10 (0.06%) to close at Rs. 160.00. 

The Capital Goods sector was the second highest contributor to market turnover (due to John Keells Holdings) while the sector index decreased by 1.28%.

The share price of John Keells Holdings moved down by Rs. 2.40 (1.50%) to close at Rs. 157.60.

Ceylon Tobacco Company was also included amongst the top turnover contributors. The share price of Ceylon Tobacco Company edged up by Rs. 0.10 (0.01%) to close at Rs. 1,150.