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Sri Lanka stocks close 0.02pct higher

ECONOMYNEXT- Sri Lanka’s stocks closed 0.02 percent higher on Ceylon Tobacco Company on Monday, provisional data showed.

Colombo’s All Share Price Index (ASPI) closed 1.28 points up at 5,931.04 on Monday.

The market was volatile throughout the day, rising to a daily high of 5,940.96 within the first half-hour of trading, and falling to a low of 5,916.98 towards the latter part of the day.

S&P SL20 Index of most liquid stocks closed today 0.16 percent or 4.64 points up at 2,839.68.

Market turnover was 388 million rupees, and 58 stocks gained while 75 fell.
Crossings made up around 47 percent of today’s turnover, brokers said.

Four crossings in Commercial Bank of Ceylon amounted to 156 million rupees while another crossing in Nations Trust Bank amounted to 20 million rupees, dragging turnover up towards the end of the day.

Brokers said that banking shares and the diversified sector contributed mostly to the market gain despite dull sentiment.

Retail activity too was very low with only 3000 trades done for the day.
The Ceylon Tobacco Company share traded 13.60 rupees up at 1,113.60 rupees a share contributing most to ASPI’s gain.

Distilleries Company of Sri Lanka gained 50 cents to 18.00 rupees a share and Dialog Axiata was up 10 cents to 12.60 rupees a share, also pushing the market up.

However, Ceylinco Insurance Plc weighed the market down, closing 89.60 rupees lower at 1,840.00 rupees a share.

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(Colombo/Feb03/2020)

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