Sri Lanka stocks recover Easter Sunday losses
Jul 11, 2019 15:52 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lanka stocks closed 0.71 percent higher on Thursday, returning to levels seen before the Easter Sunday terror attacks, brokers said.
Colombo's All Share Price Index (ASPI) closed 39.45 points up at 5,561.28, after reaching a daily high of 5,562.44 in the afternoon session.
The S&P SL20 Index of more liquid stocks closed 0.66 percent or 17.06 points up at 2,611.66.
“The market is now almost at the level where it was before the Easter Attacks,” an analyst said.
The last market day before the attack, the ASPI was at 5,606.35, but in the weeks earlier, the index was as low as 5,511.77.
The market had recovered since May 16, after falling to a 7-year low of 5,199.98.
On Thursday, market turnover was 523 million rupees with 80 stocks gaining and 60 stocks declining.
The turnover was boosted by three crossings (negotiated trades) split into a single crossing in Sampath Bank (87.6 million rupees) and two crossings in Melstacorp totaling up to 97.9 million rupees.
Retail activity has picked up, with more trading in mid-sized companies, brokers said.
Index-heavy John Keells Holdings closed 4.80 rupees down up 145.00 rupees a share contributing to the ASPI rise.
LOLC Holdings closed 5.80 rupees up at 102.10 rupees a share and Sri Lanka Telecom closed 1.50 rupees up at 23.60 rupees a share, also pushing the ASPI up.
(COLOMBO, 11 July, 2019)