Sri Lanka stocks close 0.31-pct higher, crossings dominate for fourth straight day

ECONOMYNEXT- Sri Lanka’s stocks closed 0.31 percent higher on Wednesday with upward movement in Distilleries Company of Sri Lanka (DIST) amid another day with high crossings, brokers said.

The All Share Price Index (ASPI) at the Colombo Stock Exchange closed 16.70 points up at 5,392.30. The index gained throughout the day, going past the 5,400 mark in the final half hour of trading, before shedding a few points towards the final few minutes of activity.
The more liquid S&P SL20 Index closed 0.04 percent or 0.95 points down at 2,514.39.
Brokers said that President Maithripala Sirisena re-chairing the cabinet meetings imparted some positivity in the market.
Market turnover was 542 million rupees, with 69 stocks gaining and 52 falling.
There was high foreign activity with net inflows of 178.5 million rupees to the market.
DIST closed 50 cents up at 15.50 rupees a share, contributing most to the ASPI gain.
Crossings (negotiated deals) contributed to 40 percent of the daily turnover, continuing a trend seen over the past four days.
Heavy crossings were seen on the Vallibel Power Erathna, Panasian Power and John Keells Holdings stock.
Retail activity was seen on Expolanka Holdings and Renuka Capital stock. (Colombo/Jun19/2019)

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