With the announcement of snap Presidential Election Colombo All Share Index fell 55.68 points (1.9%) to lose at 2875.39. MPI lost 71.89 points (2.15%) to close at 3273.11. Turnover was at Rs 253.4 million. Out of all traded companies only eight of them managed to record a gain while 115 companies lost their value.

Index heavy weight Sri Lanka Telecom lost 1.25 to close at Rs 40.50 while Dialog Telekom was down by 25 cents to close at Rs 7.00. John Keells Holdings Plc dipped 3.25 to end at Rs 138.75. Colombo Dockyard Plc lost 3.75 to close at Rs 186.25. Hatton National Bank closed at Rs 160.50, down 6.25.

Tokyo Cement Company (Lanka) Plc was up by Rs 3.00 to lose at Rs 214.50. Rarely traded company Kalamazoo Systems Plc closed 200.00 rupees higher at Rs 800.00 but only 100 shares traded.

Foreigners were net buyers with Rs 107.8 million purchases & Rs 7.6 million sales.

There may be further downward potential in coming days with uncertainty over current political issues. Investors should acquire fundamentally sound stocks at low prices.

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Filed under: Stock Market Today.

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