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Monday May 17th, 2021
Markets

Sri Lanka stocks close 0.04-pct higher, index-heavy buying

ECONOMYNEXT- Sri Lanka’s stocks closed 0.04 percent higher, with buying interest in index-heavy Dialog Axiata, Commercial Bank and John Keells Holdings (JKH), while the sale of Hatton Plantations (HPL) dominated trade, brokers said.
 
The All Share Price Index closed 2 points up at 5,293.49. The market fell to an intraday low of 5,278.74 before recovering in the final three hours of trading.
 
The more liquid S&P SL20 Index closed 4.38 points or 0.20 percent higher at 2,464.15.
 
Market turnover was 1.8 billion rupees, with 57 stocks gaining and 65 falling.
 
There was little foreign activity, with net buying of 63.5 million rupees.
 
The sale of HPL for 1 billion rupees contributed 55 percent to daily turnover. Watawala Plantations sold a 51 percent stake, or 120.7 million shares in HPL to Lotus Hydropower for 8.30 rupees a share.
 
HPL closed trading at 7.90 rupees a share.
 
JKH closed 1 rupee up at 138.50 rupees a share, and was the second highest turnover generator on Tuesday with 306.6 million rupees, mostly through a crossing.
 
Dialog closed 20 cents higher at 9.30 rupees a share, contributing most to the ASPI gain, followed by Commercial Bank which closed 1.40 rupees up at 91.90 rupees a share.
 
Negotiated deals were also witnessed on Janashakthi Insurance and Seylan Bank non-voting shares.
 
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