Sri Lanka stocks pulled down by Expolanka and John Keells

COLOMBO: Sri Lanka stocks fell 2.57 percent on Monday losing the gains made last week, pushed down by LOLC Holdings, Expolanka and John Keells Holdings, Colombo Stock Exchange data showed.

Turnover was 3.4 billion rupees with 29 stocks gaining and 166 falling. Economy Next reported.

First capital market research said the turnover fell to a near 2-month low.

The Colombo benchmark All Share Price Index fell 200.43 points to close at 7,597.51, Economy Next reported.

According to Economy Next, market participants said the market reverted to negative as a result of the Central Bank ordering exporters to covert 25 percent of foreign exchange earnings with immediate effect.

The index opened higher at 7,800.00 but continued to plunge within a few minutes in to and continued to fall throughout the day on Volatile Trading.

John Keells Holdings closed 4.00 rupees down at 156.00 rupees while Vallibel One fell 4.90 rupees to close at 58.00 rupees.

Hayleys closed 4.10 rupees down at 66.00 with key subsidiaries Dipped Products falling 4.30 to close at 55.80 rupees and Haycarb Plc down 9.50 to close at 106.50 rupees.