Sri Lanka stocks close 0.12-pct up, buying in banks

ECONOMYNEXT – Sri Lanka stocks closed 0.12 percent higher with profit-taking seen in selected company shares on Friday.

Colombo’s All Share Price index (ASPI) closed 6.84 points higher at 5,515.81.

The S&P SL20 index of more liquid stocks closed 0.44 percent or 11.33 points up at 2,599.17.

Market turnover for Friday was 505 million rupees with 85 stocks gaining and 57 stocks declining.

A crossing or negotiated block deal in John Keells Holdings (203 million rupees) and normal trade in Sampath Bank (71 million rupees) accounted for more than 55 percent of the turnover.

Meanwhile, compared to yesterday’s trading, retail activity slowed down with only 5167 trades done, brokers said.

Investors seem more interested in conglomerates and banks, which have been contributing the most to the ASPI’s gain.

Trading was mainly centered on Sampath Bank, Access Engineering, Tokyo Cement and National Development Bank.

Commercial Bank of Ceylon closed 2.20 rupees up at 97.80 rupees a share contributing most to the ASPI’s rise.

John Keells Holdings closed 80 cents up at 145.90 rupees a share and National Development Bank closed 3.60 rupees up at 100.10 rupees a share, also pushing the ASPI up.
(COLOMBO, 05 July, 2019)

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