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Sri Lanka stocks close 0.44-pct higher

ECONOMYNEXT – Sri Lanka stocks gained 0.44 per cent on Friday pushed by LOLC Holdings, Distilleries and C T Holdings, Colombo Stock Exchange provisional data showed.

Colombo’s main, All Share Price Index gained 25.79 per cent to close at 5,945.79.

S&P SL20 index of most liquid stocks gained 0.61 per cent or 14.44 points to end at 2,380.58.

Market analysts said that the market gained over the last week on small-cap selling but today interest moved gradually towards fundamental counters such as John Keells which contributed to market gain while foreign investors stayed quiet.

However, brokers said that with the September quarter results coming in, market interest will move to the main counters again.

The market turnover was 3.6 billion rupees with 105 stocks gaining and 97 making losses.

There were six crossings within today’s trading from the counters, Vallibel Power (287 million rupees), John Keells Holdings (7.89 million rupees), Tokyo cement non-voting shares (22.6 million) and Central Finance Company (21.82 million rupees).

Retail activity centred on Expolanka, Piramal Glass Ceylon and ACL Cables with 28,000 trades in total.
Brokers said the market was dull compared to the last four days which recorded more than 30,000 trades happening for a day.
LOLC Holdings PLC contributed most to ASPI’s gain trading 6.70 rupees up at 131.70 rupees a share.

Other stocks which contributed to ASPI’s gain were Distilleries Company of Sri Lanka gaining 50 cents to trade at 18.40 rupees a share, C T Holdings stocks climbed 10.30 rupees to trade at 170.00 rupees a share while Ceylon Cold Stores stocks climbed 19.90 rupees to trade at 679.90 rupees a share.
(Colombo/Oct16/2020

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