Fall in John Keells, Expolanka Holdings share prices hits stock market

COLOMBO: Sri Lanka stocks fell 1.63 percent on Friday, with investors taking profits on several high flyers with some early earnings were below expectations, but banks and finance companies continued to rise, Economy Next quoted brokers asm saying.

Colombo’s All share price index fell 1 143.94 points to close at 8,668.07, Economy Next added.

The S&P SL20 index of more liquid stocks gained 0.25 percent or 8.85 points to close at 3,514.18.

Turnover was 13.4 billion rupees with 48 stocks gaining and 181 falling.

Expolanka Holdings closed 5.40 rupees or 9.66 percent down at 50.50 rupees contributing most for the ASPI fall. The firm reported earnings of 4.5 billion rupees in December quarter, up 15 fold from a year earlier. The firm reported the levels of profits in the previous quarter.

John Keells Holdings fell 4.25 rupees to close at 167.00 rupees. On Wednesday the JKH said profits fell 59 percent in the December quarter.