CTC profits boost Sri Lanka stocks, snaps four day retreat

ECONOMYNEXT- Sri Lanka’s stocks closed 0.49 percent up on Friday, ending a four-day retreat, with buying in cigarette monopoly Ceylon Tobacco Company, provisional data showed.

The All Share Price Index (ASPI) closed 22.55 points up at 5,954.62. The ASPI reached an intra-day high of 5,964.95 in mid-morning, before moving downwards until the last hour of trade.

The S&P SL20 Index of more liquid stocks closed 0.95 percent or 27.89 points up at 2,963.21.

Market turnover was 722.6 million rupees, with 48 stock prices rising and 96 falling.

There was low foreign investor activity, with 11.4 million rupees in net outflows from the market.

Retail investor activity centred on Access Engineering and Tokoy Cement Company (Lanka).

CTC, which reported profits for the September quarter on Friday, closed 39.90 rupees up at 1,120 rupees a share, contributing most to the ASPI gain. (Colombo/Nov08/2019)