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Friday January 21st, 2022
Markets

Sri Lanka stock index at fresh closing high on strong trade

ECONOMYNEXT – Sri Lanka stock index touched a fresh record closing high on Thursday (11) with the price gains of Commercial leasing finance, LOLC finance and LOLC Holdings pushing the index, brokers said.

The Colombo benchmark All Share Price Index (ASPI) hit an intraday high of 10,765 in the end session, but closed 1.56 percent or 163.77 points higher at 10,686.37, its fresh all-time closing high.

The S&P SL20 index of more liquid stocks, however, fell 0.19 percent or 7.03 points to close at 3,625.37.

The day’s turnover was 6.8 billion rupees, above this year’s average daily turnover of over 4 billion rupees.

Foreign investors, however, sold a net of 10.3 million rupees’ worth of shares, extending the net foreign inflow to 46.07 billion rupees so far this year.

Brokers had expected foreign investors to exit after Moody’s Investor Service downgraded Sri Lanka’s sovereign credit rating last week to near default category.

The gain was led by Commercial Leasing and Finance, LOLC Finance and LOLC Holdings.

Commercial Leasing and Finance gained 6.72 percent to close at 73.10 rupees.

LOLC Finance gained 23.38 percent to close at 24.80 rupees a share while LOLC Holdings gained 3.52 percent to close at 679.75 rupees.

Ex-Pack Corrugated Carton Ltd which started trading on Wednesday (10) fell 1.14 percent to close at 17.40 rupees.

The bourse saw 109 stocks gaining against 83 falling on Wednesday. (Colombo/Nov 11/2021)

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