Indices close in red

Sri Lanka’s Colombo Stock Exchange ended Wednesday in negative territory, with the All Share Price Index (ASPI) down 27.26 points, or 0.14%, at 20,050.22, EconomyNext reported, citing exchange data. The S&P SL20 fell 0.02%, or 0.96 points, to 5,729.14. Daily Mirror also reported that the indices closed lower and turnover exceeded Rs. 1.1 billion.

Daily Mirror attributed the decline to losses in shares including Dialog Axiata, Commercial Bank and Hatton National Bank. EconomyNext identified Commercial Bank, Hayleys and Odel among the leading negative contributors; Odel fell 7.41% to Rs. 10.00. Gains in LOLC Holdings, Vallibel One, Asiri Hospital Holdings, Ambeon Holdings and Haycarb partly offset those declines. EconomyNext put market turnover at Rs. 318.20 million, with retailing the leading turnover sector at Rs. 100.89 million.

A separate EconomyNext report on Tuesday’s mid-morning trading said the market opened higher before turning slightly lower. The ASPI was down 8.97 points, or 0.04%, at 20,251, while the S&P SL20 rose 0.12% to 5,790. Turnover at that point was Rs. 213.11 million, led by the Food, Beverage & Tobacco group.

The Tuesday report also noted company announcements: Softlogic Life Insurance proposed combining its subsidiary into the parent company, subject to Colombo District Court approval; Dinlanka Logistics said it had bought 20 million Ceylon Hotels Corporation shares at Rs. 30 each on October 12, giving it an 11.11% stake; and Dipped Products said its new Rs. 4.2 billion glove manufacturing facility at Katunayake began operating on October 8.