Sri Lanka stocks close 0.84-pct higher, buying in Melstacorp

ECONOMYNEXT- Sri Lanka’s stocks closed 0.84 percent higher on Wednesday with buying interest on Melstacorp, Carson Cumberbatch and Dialog Axiata, provisional data showed.

The All Share Price Index closed 43.44 points up at 5,378.73. The index gained steadily throughout the day, reaching an intra-day high of 5,382.03 in the final half hour of trading.
The more liquid S&P SL20 Index closed 0.67 percent or 16.58 points up at 2,504.73.
Market turnover was 254.8 million rupees with 106 stocks gaining and 27 falling.
Melstacorp closed 2 rupees up at 40 rupees a share, contributing most to the ASPI gain.
Carson Cumberbatch closed 10 rupees up at 165 rupees a share, and Dialog closed 20 cents down at 9.30 rupees a share, also pushing up the benchmark index.
There was a negotiated trade in Ceylon Cold Stores (CCS) at 570 rupees a share, but it went on to close trading flat at 599 rupees a share.
CCS recently said that the soft drink market, which faced reduced demand for the most of 2018/19 financial year, started seeing a pickup in the final quarter as the government reduced the tax rate on sugary drinks.

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