Sri Lanka stocks close down as profit taking sets

Sri Lanka’s Colombo Stock Exchange closed down on Wednesday, with some profit taking coming in, particularly in banking, brokers said. 

The ASPI was down 0.41 percent, or 95.00 points, at 22,920.

S&P SL20 was down 0.40 percent, or 24.90 points, at 6,269. 

“Market has been peaking around the 23,000 mark again, with some profit taking coming down,” Dimantha Matthew, Chief Research and Strategy Officer at First Capital Holdings said. 

Top positive contributors to ASPI were Nawaloka Hospitals (up 8.44 percent at Rs.16.70), LOLC Holdings (up 0.83 percent at Rs.574.75), and Seylan Bank (up 1.65 percent at Rs.107.75). 

Melstacorp (down 1.04 percent at Rs.190.00), Bukit Darah (down 3.23 percent at Rs.935.50), National Development Bank (down 1.71 percent at Rs.115.25), and DFCC Bank (down 1.44 percent at Rs.136.50) were top negative contributors. 

“Banking sector down today with increased levels of impairment due to global risks and loss levels increasing,” Matthew added. “So we’re seeing slight selling pressure.” 

Market turnover was 2.82 billion rupees. Capital goods led turnover with 544.7 million rupees, followed by Diversified Financials with 490.1 million rupees.