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Sri Lanka stocks ends higher

ECONOMYNEXT – Sri Lanka stocks gained 0.41 per cent on Wednesday recovering from a two-day slide with the resurgence of a new COVID cluster in the country.

Stockbrokers said that strategic investor buying pushed the market after record plunges in stock prices in the last two days.

Sri Lanka’s Brandix cluster has now moved past 1,000 confirmed cases – the largest yet in the island.

The country is aggressively contact-tracing because workers and contacts spread out across.

Police curfew has been imposed in 18 police areas in the Gampaha district. Authorities have yet to announce lockdown measures in other parts of the country including the Colombo district, though PCR tests are being conducted at the Brandix headquarters in Colombo 03.

Authorities also said they are trying to contain the spread without a nation-wide lockdown.

Colombo’s main, All Share Price Index climbed 18.61 points to end at 5,553.22.

The S&P SL20 index of more liquid stocks gained 0.13 per cent or 2.98 points to settle at 2,275.20.

Market turnover was 3.8 billion rupees while 117 made gains and 62 made losses.

Bukit Darah PLC stocks contributed most to ASPI’s gain, trading 22.20 rupees a share up at 366.80 rupees, Carsons Cumberbatch PLC gained 8.50 rupees a share to trade at 260.10 while Browns Investment PLC gained 10 cents to trade at 2.50 rupees a share.
(Colombo/Oct07/2020)

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