Sri Lanka stocks edge up, active trading in FLC Hydro Power

EconomyNext – Sri Lanka’s benchmark stock index closed higher Monday supported by gains in Ceylon Tobacco Company and CT Holdings with a hydro power firm attracting much investor interest and hitting a 52-week high, brokers said.

The benchmark All Share Price Index edged up 11.40 points (0.16 percent) to 7,326.31 while the S&P SL20 index, which tracks the top 20 largest and most liquid stocks, ended at 4,127.49, down 5.52 points (0.13 percent).

Turnover was just over a billion rupees with several crossings or off-the-floor negotiated deals John Keels Holdings, Ceylon Cold Stores, Ceylon Investment and Commercial Bank.

Oshan Dharmaratne, investment analyst at Lanka Securities, said FLC Hydro Power attracted heavy investor interest during the day, hitting a 52-week high of 8.20 rupees, up by 24.2 percent. It closed at 8.10, up 1.50.

He said Hemas Holdings fell to 78 but closed at 79.60, down 6.4 percent mainly because of rights issue followed by the announcement of an employee share option scheme.

HNB non-voting hit a 52-week high of 181 rupees after its dividend declaration last Friday but the voting share fell to 240 rupees.


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