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Sri Lanka stocks close 0.58-pct higher, John Keells Holdings dominates trade

ECONOMYNEXT- Sri Lanka’s stocks closed 0.58 percent higher on Wednesday with negotiated trades (crossings) in John Keells Holdings accounting for two thirds of trading, provisional data showed.

The All Share Price Index rose 34.80 points to 5,989.42. The ASPI had reached an intra-day high of 5,997.23 in the morning session, before the market fell around noon and made sideways movement until late-afternoon.

The S&P SL20 Index of more liquid shares closed 0.60 percent or 17.58 points up at 2,969.57 amid volatility.

Wednesday was the first time the market opened trading after Friday, due to local holidays.

Presidential hopefuls will today end their campaigning under election laws, ahead of the presidential polls on Saturday.

Market turnover was 2 billion rupees, with 64 percent of the total deriving through negotiated trades (crossings) in John Keells Holdings (JKH)

The JKH crossings took place at 154 rupees a share, and closed 50 cents up at 154.50 rupees a share.

Crossings were also witnessed in the three largest lenders Commercial Bank, Hatton National Bank (non voting) and Sampath Bank.

Prices of 106 stocks rose and 40 fell.

JKH’s soft-drink and confectionary subsidiary Ceylon Cold Stores contributed most to the ASPI gain, and closed 38.70 rupees up at 799.80 rupees a share.

Diversified holding firms Carson Cumberbatch and Hemas Holdings also pushed the ASPI up.

Carson Cumberbatch closed 9.50 rupees up at 179.60 rupees a share and Hemas Holdings closed 2.10 rupees up at 83.10 rupees a share. (Colombo/Nov13/2019)

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