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Sri Lanka stocks end slightly higher

ECONOMYNEXT – Sri Lanka stocks end 0.03 higher on Wednesday pushed by index heavy counters John Keells Holdings, Dialog Axiata and Distilleries, Colombo Stock Exchange data showed.

Colombo’s main All Share Price Index gained 2.04 points to end at 6,097.93.

The index after rallying for two wees finally fell on Tuesday due to profit-taking in counters.

“Profit-taking in counters that surged for the past couple of weeks reverted the direction of the ASPI to negative while S&P SL20 sustained the drive in the green zone,” FirstCapital Research said in its daily report yesterday.

S&P SL20 index of most liquid stocks gained 0.87 per cent or 20.95 points to end at 2,432.55.

Market turnover was 3 billion rupees with 73 stocks making gains and 108 making losses.

John Keells Holdings contributed most to ASPI’s gain, trading 2.70 rupees up at 140.90 rupees a share.

Other stocks that contributed to ASPI’s gain were Dialog Axiata trading 30 cents up at 11.60 rupees a share while Distilleries Company of Sri Lanka too gained 30 cents to trade at 17.90 rupees a share.

Banking counters, Hatton National bank gained 0.80 cents to trade at 116.50 rupees, Commercial Bank of Ceylon gained 0.90 cents to trade at 79.00 rupees a share while Sampath Bank gained 1.10 rupees to trade at 128.00 rupees a share.

Conglomerates, Melstacorp Plc fell 70 cents to close at 33.70 rupees a share, Softlogic Holdings fell 30 cents to trade at 10.50 rupees a share while Hemas Holdings fell 60 cents to trade at 75.40 rupees a share.

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Food, Beverages and Tobacco counters, Ceylon Cold stores gained 12.70 rupees to close at 649.50 rupees a share, Ceylon Tobacco Company closed up 6.10 rupees to 971.10 rupees a share while Nestle Lanka gained 14.20 rupees to close at 1,125.00 rupees a share.

Meanwhile, counters that made losses were Sri Lanka Telecom trading 80 cents down at 32.20 rupees a share, Browns Investment down 10 cents to trade at 2.40 rupees a share and Commercial Leasing and Finance fell 20 cents to trade at 4.20 rupees a share.

Material industry index was the most active, gaining 0.58 per cent.

Capital Goods industry which was also active gained 0.67 per cent.

(Colombo/Nov11/2020)

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