Sri Lanka stocks end up 0.5-pct

EconomyNext – Sri Lankan stocks ended higher for the third straight session Monday as the market continued recovering losses suffered in a panic sell-off after a government budget slammed hefty new taxes on big companies.  

The benchmark All Share Price Index ended 0.5 percent or 35.69 points up at 7,198.44 while the S&P SL20 index, which tracks the top 20 largest and most liquid stocks, closed at 3,983.41, up 24.48 points or 0.62 percent.

Turnover was 930 million rupees, boosted by trades in John Keells Holdings and Dialog Axiata.

Brokers said the benchmark index was lifted by gains in Hatton National Bank, Ceylon Beverage Holdings, JKH, Nestle Lanka and Shalimar (Malay).

HNB rose almost six percent or 12 rupees to 214 rupees, Ceylon Beverage Holdings, the second highest gainer, went up 21 percent or 158 rupees to 893.80 rupees on just a few trades and JKH ended 1.4 percent or 2.90 rupees higher at 211.90.


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