Sri Lanka stocks close up 0.9-pct driven by banks

ECONOMYNEXT – Sri Lanka stock market closed 0.97 percent higher Wednesday, recovering ground from a correction a day earlier as investors piled into banks, finance companies and Hayleys group export units, brokers said.

Colombo’s All share price index gained 0.97percent or 75.48 points to close at 7,884.45, a little short of the psychological 8,000 mark.

The index fell to an intra-day low of 7,677.37 in the first hour into trading but picked up and continued to increase throughout the day.

The S&P SL20 index of more liquid stocks gained 1.27 percent or 37.32 points to close at at 3,096.35.

The market turnover was 9.3 billion rupees with 124 stocks gaining and 84 falling with banks and finance companies dominating, though a direction from the central bank restricting dividends and some expenses gave some investors pause.

Hatton National Bank closed 50 cents up at 139.50 rupees, Sampath Bank closed 4.75 rupees up at 166.75 rupees, Commercial Bank of Ceylon gained50 cents to close at 96.70 rupees and DFCC Bank closed 80 cents up at 71.40 rupees.

Nationas trust bank gained 70 cents to close at 66.70 rupees, Pan Asia Banking Corporation gained 10 cents to 18.70 rupees and Seylan Bank gained 6.50 rupees or 10.94 percent to close at 65.90 rupees.

Central Finance Company gained 4.90 rupees or 5.59 percent to close at 92.60 rupees, LB Finance gained 23.75 rupees or 14.59 percent to close at 186.50 rupees and Peoples Leasing and Finance gained 60 cents to close at 15.10 rupees a share while Citizens Development Business Finance fell 2.00 rupees or 1.78 percent to close at 110.50 rupees.

Hayleys Plc contributed most to the ASPI gain, closing 80.00 rupees or 16.08 percent up at 577.50 rupees a share with key subsidiaries Dipped Products rising 24.00 rupees to close at 441.00 rupees a and Haycarb up 49 to close at 770.25 rupees.

Vallibel One gained 3.70 rupees or 9.07 percent to close at 44.50 rupees a share





Expolanka Holdings gained 1.30 rupees to close at 51.30 rupees and Access Engineering gained 30 cents to close at 30.80 rupeeswhile Browns investments close 10 cents down at 6.80 rupees a share and its parent company LOLC Holdings fell 3.75 rupees to close at 231.75 rupees.

Sri Lanka will open all airports for tourist from January 21 and tourism Minister Prasanna Ranatunga said a maximum of 2,500 would be allowed in at first.

In the hotel sector Eden Hotel Lanka closed 30 cents up at 13.80 rupees, Sigiriya Village hotel closed 1.60 rupees up at 35.90 rupees while Aitken Spence Hotel holdings fell 40 cents to close at 33.70 rupees andJohn Keels Hotels closed 3.25 rupees down at 157.00 rupees a share.

Sri Lanka Telecom closed 50 cents up at 40.50 rupees while Melstacorp Plc closed flat at 60.20 rupees.

John Keells Holdings closed 3.25rupees down at 157.00 rupees a share and Richard Pieris Company closed 30 cents down at 15.40 rupees.

Ceylon Tobacco Company gained 6.75rupees to close at 1,116.50 rupees, Ceylon Cold stores closed 1.00 rupee up at 710.00 rupees and Distilleries Company gained10 cents to close at 23.30 rupees.

EB Creasy and Company rose 946.50 rupees up at 7,782.75 rupees while Hemas Holdings closed 10 cents up at 95.10 rupees.

Tokyo Cement Company gained 50 cents to close at 86.00 rupees while Cargills Ceylon closed flat at 217.00 rupees a share.

Nestle Lanka closed 12.00 rupees down at 1,264.50 rupees while Dialog Axiata closed 10 cents up at 12.80 rupees.

Aitken Spence Plc closed 20 centsup at 67.60 rupees and Carson Cumberbatch closed 5.50 rupees up at 305.50 rupees.

Lanka Ceramic closed 4.25 rupees down at 142.25 rupees a share while Royal Ceramic Lankagained 3.50rupees to close at 215.75 rupees a share.

Sri Lanka record a net foreign sales of 535.8 million rupees today.

The Banks industry was the most active, gained 2.1 percent and Capital Goods Industry which was also active gained 1.5 percent today. (Colombo/January 20/2021)

Latest Comments

Your email address will not be published. Required fields are marked *