EconomyNext – Sri Lankan stocks ended higher for the second day Friday recovering more of the losses suffered in a panic sell-off after last week’s government budget slammed hefty new taxes on big companies.
The benchmark All Share Price Index ended 1.64 percent or 115.44 points up at
7,162.75 while the S&P SL20 index, which tracks the top 20 largest and most liquid stocks, closed at 3,958.93, up 105.28 points or 2.73 percent.
Turnover was just over two billion rupees.
Brokers said the gains were led by John Keells Holdings, Commercial Bank, Carson Cumberbatch, Lion Brewery and Nestle Lanka.
JKH, Commercial Bank and Access Engineering, some of the worst hit in the slump, were among the most actively traded shares.
JKH closed at 208.80 rupees, up 3.6 percent with three million shares traded, adding 642 million rupees to turnover.
Commercial Bank gained 3/7 percent to end at 168.10 rupees with over two million shares done.
SC Securities said there was net foreign selling of 174 million rupees despite Thursday’s notable net foreign inflow.