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Sri Lanka stocks end 2.26-pct higher

ECONOMYNEXT -Sri Lanka stocks closed 2.26 percent higher on Thursday pushed by retail activity, Colombo Stock Exchange data showed.

The stock market will be closed on Friday (30) for Poya day (a public, bank and mercantile holiday) in Sri Lanka.

Colombo’s main, All Share Price Index gained 126.39 points to 5,726.59.

S&P SL20 index of more liquid stocks closed 1.93 per cent or 43.26 points to end at 2,282.30.

The market has been volatile throughout the week with investors factoring in fears of another nation-wide COVID-19 lockdown while positive sentiments stemming from certain companies reporting healthy 2nd quarter numbers in September however there is a sense of foreboding behind the market player.

Sri Lanka’s new COVID-19 wave first emerged in an apparel factory in Minuwangoda early this month, and a subsequent cluster around a fish market in Peliyagoda, where large numbers of traders, buyers from restaurants and individual customers gather daily, led to a wide and rapid spread of the disease.

As of this afternoon, the new wave cases increased to 5,731 while 2,908 were identified from the Gampaha districts, and 1,584 were from the Colombo district.

Meanwhile, authorities have decided to impose quarantine curfew in the Western Province from midnight today (October 29) until 5 am Monday (November 02) in an effort to contain COVID-19 spreading.

While market turnover was 1.6 billion rupees with 171 stocks making gains and 19 making losses.

Ceylon Tobacco Company contributed most to ASPI’s gain, trading 15.10 rupees up at 955.00 rupees a share.

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Other stocks which contributed to ASPI were Bukit Darah trading 21.90 rupees up at 363.00 rupees a share while Expolanka plc too gained 1.10 rupees to 18.10 rupees a share. (Colombo/Oct29/2020)

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