Shares down on political uncertainty fears

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By 2018-02-13

By Mario Andree

After hitting a new 3-month high on Friday (09), the Colombo Stock Exchange started the new week on a negative footing on Monday (12) as investors feared political uncertainty following the shocking election results where the two main parties were comprehensively defeated.

Sri Lanka Freedom Party (SLFP), led by President Maithripala Sirisena, and the United National Party (UNP), led by Prime Minister Ranil Wickremesinghe, only managed to secure a few seats at the Provincial Council elections as the Sri Lanka Podujana Peramuna (SLPP), led by former President Mahinda Rajapaksa, won in a landslide.

The benchmark All Share Price Index (ASPI) on Monday (12) slipped 0.45 per cent (29.30 points) to close at 6,542.99 points, while the S&P SL 20 representing the top 20 listed entities slipped 0.41 per cent (15.21 points) to close at 3,714.97 points.
The day's turnover reached Rs 598 million, Higher than Friday's (09) Rs 452 million, with 95 losers ahead of 42 winners.
Despite a foreign outflow on Friday (09), the Colombo Stock Exchange on Monday (12) witnessed a foreign inflow of Rs 289 million as foreign purchases amounted to Rs 311 as against sales worth Rs 22 million.

Nearly 34.78 million shares changed hands on Monday (12) during 4,897 trades taking place.
The share price of John Keells Holdings slipped 2.02 per cent (Rs 3.20) to close at Rs 155.30 as 83,497 shares changed hands during 25 trades, Sri Lanka Telecom slipped 3.77 per cent (Rs 1.10) to close at Rs 28.10 as 5,489 shares changed hands during 21 trades, while the share price of Cargills slipped 3.29 per cent (Rs 6.80) to close at Rs 200.20 as 2,058 shares changed hands during 13 trades.

On a positive note, the share price of Nestle Lanka gained 2.17 per cent (Rs 39.20) to close at Rs 1,849.70 as 149 shares changed hands during 9 trades, Dialog Axiata gained 1.48 per cent (20 cents) to close at Rs 13.70 as 185,603 shares changed hands during 73 trades, while the share price of Softlogic Holdings gained 10.50 per cent (Rs 1.90) to close at Rs 20 as 13 million shares changed hands during 665 trades.

The benchmark All-Share-Price Index (ASPI) on Monday (12) slipped 0.45 per cent (29.30 points) to close at 6,542.99 points, while the S&P SL 20 representing the top 20 listed entities slipped 0.41 per cent (15.21 points) to close at 3,714.97 points.
The day's turnover reached Rs 598 million, Higher than Friday's (9) Rs 452 million, with 95 losers ahead of 42 winners.
Despite a foreign outflow on Friday (9), the Colombo Stock Exchange on Monday (12) witnessed a foreign inflow of Rs 289 million as foreign purchases amounted to Rs 311 as against sales worth Rs 22 million.

Nearly 34.78 million shares changed hands on Monday (12) during 4,897 trades taking place.
The share price of John Keells Holdings slipped 2.02 per cent (Rs 3.20) to close at Rs 155.30 as 83,497 shares changed hands during 25 trades, Sri Lanka Telecom slipped 3.77 per cent (Rs 1.10) to close at Rs 28.10 as 5,489 shares changed hands during 21 trades, while the share price of Cargills slipped 3.29 per cent (Rs 6.80) to close at Rs 200.20 as 2,058 shares changed hands during 13 trades.

On a positive note, the share price of Nestle Lanka gained 2.17 per cent (Rs 39.20) to close at Rs 1,849.70 as 149 shares changed hands during 9 trades, Dialog Axiata gained 1.48 per cent (20 cents) to close at Rs 13.70 as 185,603 shares changed hands during 73 trades, while the share price of Softlogic Holdings gained 10.50 per cent (Rs 1.90) to close at Rs 20 as 13 million shares changed hands during 665 trades.

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