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Sri Lanka stocks close up 0.62-pct driven by JKH, Distilleries

ECONOMYNEXT- Sri Lanka stocks closed 0.62 percent higher pushed by index heavy stocks John Keells Holdings and Distilleries Company of Sri Lanka while bond yields eased in moderate trade, dealers and brokers said.

Colombo’s main, All Share Price Index closed 19.79 points up at 4,800.00 on Wednesday.

The index reached an intra-day high of 4,812.11 minutes before closing to settle at 4,809.81.

The S&P SL20 index of more liquid stocks closed 0.86 percent or 17.16 points up at 2,014.36.

Market turnover for the day was 1.37 billion rupees with 82 stocks gaining and 73 falling.

John Keells contributed 59 percent to the total turnover.

There were crossings in John Keells Holdings and Hatton National Bank counters.

JKH had 10 crossings amounting to a total trade volume of 6.5 million shares priced between 107 to 110 rupees a share and HNB had a single crossing totaling to 300,000 traded at 105 rupees a share.

Meanwhile, banks continued to make gains contributing to 322 million.

HNB stock closed at closed 90 cents down at 104.00 rupees a share.

John Keells Holdings stock advanced 3.20 rupees to trade at 110.10 rupees per share contributing the most to the ASPI’s gain.

Distilleries Company shares closed 60 cents up at 15.40 rupees while Dialog Axiata shares climbed 20 cents to 10.10 rupees a share.

In the secondary government securities market, bond yields gained in moderate trade with high liquidity seen in 01.10.2022 maturity, dealers said.

Sri Lanka’s debt office offered 30 billion rupees up in weekly bills auction today.

A bond maturing on 10.08.2021 was quoted at 6.90/10 percent on Wednesday, stable from 6.90/7.05 percent at Tuesday’s closing.

A 2-year bond maturing on 01.10.2022 was quoted at 7.35/40 percent, easing from 7.42/47 percent.

A bond maturing on 15.01.2023 was quoted at 7.73/78 percent, down from 7.78/83 percent on Tuesday.

A bond maturing on 15.09.2024 was quoted at 8.33/38 percent on Wednesday, easing from 8.35/42 percent at Tuesday’s end.

A bond maturing on 15.10.2027 was quoted at unchanged at 8.80/85 percent.

(Colombo/May27/2020)

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