Stocks Close Down 0.4-pct; Political Uncertainty Keeps Investors Away

Jun 04, 2015 (LBO) – Sri Lanka’s stocks closed down for a fourth consecutive day with the country’s political uncertainty affecting investor confidence, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 28.55 points lower at 7,120.91 down 0.4 percent. The S&P SL20 closed 15. 48 points lower at 3,945.54 down 0.39 percent. Turnover was 713 million rupees, down from 958 million Wednesday with 73 stocks closing positive against 118 negative. “There is a lack of investor confidence in the market due to the prevailing political situation in the Island mainly with regard to the passing of the 20 amandment,” Lanka Securities said. The ASPI was dragged down by Carson and Cumberbatch closing at 414.80 rupees, down 4.20 rupees and John Keells Holdings closing at 192.00 rupees, down 1.60 rupees. JKH saw a 52 week low price of 190.90 rupees with a off the floor trade of 261,000 shares at 192.00 rupees. Sampath Bank closed down at 263.60 rupees, down 2.40 rupees with one off the floor trade of 100,000 shares at 265.00 rupees.