Economy & Market

Sri Lanka stocks down in midday trade, brent drops below $110

Sri Lanka’s Colombo Stock Exchange was trending down during midday trading on Tuesday, even as brent futures dropped below 110 dollars per barrel.

Brent futures dropped down from yesterday’s 115 dollar price as US President Trump signalled willingness to end US attacks on Iran.

The CSE’s All Share Price Index was down 0.33 percent, or 70.10, at 21,022.14.

The S&P SL20 was down 0.47 percent, or 27.76, at 5,881.20.

Turnover was 2.2 billion rupees. Capital goods led turnover with 528.9 million rupees.

Sampath Bank (down 5.47 percent at Rs.147.00), Hayleys (down 0.92 percent at Rs.215.00), ACL Cables (down 2.30 percent at Rs.85.00) were the top negative contributors.

Senthilverl Holdings increased its shareholding in Renuka Agri Foods to 10.04 percent, according to a market filing.

The transaction involved the purchase of 1,868,913 shares, bringing total holding to 80,189,065 shares.

Renuka Agri Foods stock was up 2.40 percent, at Rs.12.80.

S D R Arudpragasam has been appointed as the non-executive chairman of C W Mackie PLC with effect from April 1, aft Hemaka Amarasuriya retired, the company said.

Source: Economy Next