Sri Lanka stocks close higher amid volatility

ECONOMYNEXT – Sri Lanka stocks closed 0.31 percent higher on Monday amid volatility with index-heavy John Keells Holdings pushing the market up, brokers said.

Colombo’s All Share Price index (ASPI) closed 17.95 points higher at 5,816.52.

The S&P SL20 Index of more liquid stocks closed 0.71 percent or 19.99 points higher at 2,837.75.

The market turnover was 382 million rupees with 65 stocks gaining and 47 stocks falling.

John Keells Holdings, Sri Lanka’s largest conglomerate, closed 2.50 rupees up at 153.60 rupees a share, contributing most to the ASPI gain.

LOLC Holdings closed 4.80 rupees up at 129.80 rupees a share and John Keells Hotels closed 1.40 rupees higher at 8.50 rupees a share, also pushing the ASPI up.

There was a 53.9 million rupees crossing (negotiated trade) in John Keells Hotels at 7.70 rupees a share, following which there was buying interest on the stock.

The telco Dialog Axiata was active, closing flat at 10.50 rupees a share.

A planned merger between Dialog Axiata’s Malaysian parent company and Norway’s Telenor has been called off due to unspecified complexities, a stock exchange filing said today.

Retail activity centered on Browns Investment which had the highest daily turnover at 84.5 million rupees and Access Engineering, brokers said. (COLOMBO, 09 September, 2019)