Sri Lanka stocks close near 10-month high

ECONOMYNEXT- Sri Lanka’s stocks closed 0.70 percent higher on Friday, reaching a near 10-month high, provisional data showed.

The main All Share Price Index (ASPI) closed 41.84 points up at 6,032.08, breaching the psychological 6,000 mark. The index reached an intra-day high of 6,044.87 in mid-afternoon.

The index experienced volatility early morning, before making a sharp gain towards the end of the morning session.

The ASPI has gained 96.82 points throughout the week.

The ASPI is now at the highest since January 7. The market has been gaining since October 3 after more certainty on presidential candidates for the election on November 16 came to light.

Meanwhile, the S&P SL20 Index of more liquid stocks was volatile throughout the day on Friday, closing 0.36 percent or 10.79 points up at 2,990.90.

Market turnover was 1.79 billion rupees, and 100 stocks gained while 54 fell.

Ceylon Tobacco Company closed 48.70 rupees up at 1,098.70 rupees a share, contributing most to the ASPI gain amid low turnover.

Crossings (negotiated trades) dominated the market trading on Friday.

There were crossings worth 523 million rupees in Seylan Bank, 218.8 million rupees in John Keells Holdings and 39 million rupees in Commercial Bank. (Colombo/Nov1/2019)

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