Sri Lanka stocks close 0.2-pct higher amid Covid-19 surge

ECONOMYNEXT – Sri Lanka stocks closed 0.19 percent higher, falling from intra-day highs as more Coronavirus cases were detected and authorities signaled a change in strategy to increase treatment facilities and send contacts on home quarantine.

Colombo’s All Share Price Index gained 0.19 percent or 10.95 points to close at 5,680.28.

The main index started at a daily low at 5,674.85 during the first hour into trading but picked up to close marginally high on volatile trading.

The S&P SL20 index of more liquid stocks also gained 0.27 percent or 6.18 points to 2,260.97.

The market turnover was 1.09 billion rupees with 85 stocks gaining and 84 falling.

Bukit Darah, an illiquid stock contributed most to ASPI’s gain, gaining 15.90 rupees a share to close at 370.00 rupees.

John Keells Holdings gained 1.10 rupees to close at 130.10 rupees a share and Melstacorp gained 1.0 rupees to close at 32.60 rupees a share also pushing the ASPI up.

Hatton National bank gained 70 cents to close at 86.80 rupees,Tokyo Cement Company gained 2.30 rupees to close at 59.40 rupees a share, Sampath Bank gained 20 cents to close at 121.00 rupees, Hayleys Plc closed flat at 300.70 rupees a share.

However, Singer Plc fell 1.10 rupees to close at 40.30 rupees, Lanka tiles fell 1.90 rupees to close at 84.80 rupees a share and Commercial Bank of Ceylon fell 10 cents to close at 73.80 rupees.

The Materials Industry index, which was the most active, gained 1.6 percent.

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Sri Lanka has recorded 19 Coronavirus deaths with three being reported on October 27.

Sri Lanka has confirmed 541 cases on October 26, taking the total to 8,412 with most of them coming from the community and the country abandoned institutionalized quarantine.(Colombo/ October 27/2020)

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