Sri Lanka share index down as illiquid stock tumbles | Sinhala News


ECONOMYNEXT – Sri Lanka’s share index slipped 3.32 perent Friday as Commercial Leasing & Finance PLC (CLC) an illiquid share was driven up by punters amid a bull run partly driven by low-interest rates, tumbled 19 percent, data showed.

In stock exchange filing LOLC Holdings PLC (LOLC) company said several stocks including LOLC Development Finance PLC (NIFL), LOLC Finance PLC (LOFC), Commercial Leasing & Finance PLC (CLC) had been transferred to LOLC Ceylon Holdings Limited (LOCH)

Although the company said the transactions amounted to a major amount no transaction prices were given.

All Share Price Index plunged 3.32 percent or 366.17 points to close at 10,658.72

S&P SL20 index of the most liquid share gained 1.05 percent or 38.37 points to close at 3,691.03.

The day’s turnover was 9.3 billion rupees well above this year’s average daily turnover of 4 billion rupees.

Shares that dragged ASPI down are the subsidaries of LOLC Holdings – Commercial Leasing & Finance PLC (CLC),LOLC Finance PLC (LOFC), and LOLC Development Finance PLC (NIFL).

Commercial Leasing & Finance PLC down 19.11 percent to close at 63.50 rupees a share.

LOLC Finance PLC down 30.65 percent to close at 25.80 rupees a share while LOLC Development Finance PLC slipped 8.85 percent to close at 455.75 rupees a share.

However, LOLC Holdings gained 0.27 percent to close at 744.50 rupees a share.

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