Sri Lanka stocks close 0.23-pct up, buying in Combank, Asiri Hospitals
Tuesday June 11, 2019 16:30
ECONOMYNEXT – Sri Lanka’s stocks closed 0.23 percent higher on Tuesday with buying in Commercial Bank and Asiri Hospital Holdings, with crossings dominating trade, brokers said.
The All Share Price Index (ASPI) closed 12.22 points higher at 5,335.29. The ASPI witnessed volatile upward movement throughout the day, reaching an intra-day high of 5,338.20 in the last half hour of trading, before closing 3 points down.
The S&P SL20 Index of more liquid stocks closed 0.43 percent or 10.67 points up at 2,488.15.
President Maithripala Sirisena boycotted a cabinet meeting on Tuesday, in protest of state intelligence officers being questioned publicly at a parliamentary select committee inquiring into the Easter Sunday bombings.
However, brokers said the political uncertainty is already built in.
The stockmarket turnover was 411.7 million rupees with 78 stocks gaining and 34 declining.
There was high foreign participation on Tuesday, with 183.2 million rupees in net selling.
Commercial Bank closed 1.60 rupees up at 93.80 rupees a share, while Asiri Hospital Holdings closed 1.10 rupees up at 20.60 rupees a share, contributing most to the ASPI gain.
Crossings, or negotiated deals, dominated over half the turnover on Tuesday.
Three crossings on Central Finance accounted for 44.3 percent of daily turnover, with foreign selling accounting for two of the crossings (131.4 million rupees).
The Central Finance the share closed 1.80 rupees up at 85 rupees.
Another crossing (foreign buying) on Expolanka Holdings accounted for 11.8 percent of turnover, and the firm’s share closed 30 cents up at 4.90 rupees.
Foreign selling also witnessed on Dialog Axiata and Hatton National Bank, brokers said. (COLOMBO, 11 June, 2019)