ECONOMYNEXT – Sri Lankan stocks closed slightly weaker in thin trade with share prices of finance and leasing firms falling after the central bank restricted lending for car imports, brokers said.
The All Share Price Index lost 15 points or 0.2 percent to close at 7,137.40 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, lost 15.5 points (0.4 percent) to close at 3,899.63.
Turnover was a low 771 million rupees compared with the 12-months average daily turnover of 1.4 billion rupees.
The Central Bank decision to limit the loan-to-value ratio of motor vehicle leases to 70 percent coupled with rise in vehicle prices dampened the interest in finance companies and most of the stocks closed with negative returns,” Lanka Securities said.
Peoples Leasing slumped 4.7 percent to 22.50 rupees, Commercial Leasing fell 2.3 percent to 4.20 rupees, Lanka Orix Leasing ended at 100.00, down 5.5 percent, LB Finance lost 1.5 percent to end at 121.10, and Vallibel Finance closed 4.5 percent lower at 64.00.
Sampath Securities said foreigners were net buyers with a net inflow of 47 million rupees. Foreign investors bought 300,000 shares of Textured Jersey and 200,000 shares of Vallibel One.
There were crossings or off-the-floor negotiated deals in Hatton National Bank (non-voting) and Citizens Development Business Finance.
Asia Securities said Kelani Tyres was the largest contributor to the day’s total turnover helped by a crossing and block trades on the normal board and it also became the day’s most actively traded stock.
The All Share Price Index lost 15 points or 0.2 percent to close at 7,137.40 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, lost 15.5 points (0.4 percent) to close at 3,899.63.
Turnover was a low 771 million rupees compared with the 12-months average daily turnover of 1.4 billion rupees.
The Central Bank decision to limit the loan-to-value ratio of motor vehicle leases to 70 percent coupled with rise in vehicle prices dampened the interest in finance companies and most of the stocks closed with negative returns,” Lanka Securities said.
Peoples Leasing slumped 4.7 percent to 22.50 rupees, Commercial Leasing fell 2.3 percent to 4.20 rupees, Lanka Orix Leasing ended at 100.00, down 5.5 percent, LB Finance lost 1.5 percent to end at 121.10, and Vallibel Finance closed 4.5 percent lower at 64.00.
Sampath Securities said foreigners were net buyers with a net inflow of 47 million rupees. Foreign investors bought 300,000 shares of Textured Jersey and 200,000 shares of Vallibel One.
There were crossings or off-the-floor negotiated deals in Hatton National Bank (non-voting) and Citizens Development Business Finance.
Asia Securities said Kelani Tyres was the largest contributor to the day’s total turnover helped by a crossing and block trades on the normal board and it also became the day’s most actively traded stock.
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