Sri Lanka stocks gain on banks, construction

ECONOMYNEXT- Sri Lanka’s stocks were 0.10-pct higher in the first hour of trading on Thursday, with buying interest on banks and construction firms, while telco Dialog was most active.

The All Share Price Index (ASPI) was up 5.34 points to 5,588.92 while the more liquid S&P SL20 Index was up 7.61 points to 2,728.66.

Market turnover was 247.89 million rupees, with 30 stocks gaining and 14 falling.

Dialog Axiata was the most active, generating 59.5 million rupees in turnover on the floor, and trading flat at 9.10 rupees.

Another 100 million rupees in Dialog shares traded hands in a negotiated deal, at 9.10 rupees a share, brokers said.

Hatton National Bank stock was also active, trading 3 rupees higher at 180 rupees a share.

Commercial Bank was contributing most to the ASPI gain, trading 50 cents higher at 98.90 rupees a share.

LOLC Finance was up 10 cents to 3.50 rupees a share.

Banking and construction and engineering sector indices gained, after the Central Bank announced that the government is repaying overdues to contractors and banks.

Access Engineering was trading 20 cents higher at 13.30 rupees a share.

Serendib Engineering, a utilities infrastructure developer, was trading 20 cents higher at 7.20 rupees a share.

Sampath Bank was trading 90 cents higher at 170.90 rupees a share and National Development Bank was trading 40 cents higher at 99.40 rupees a share.
 
(Colombo, April 11, 2019-SB)

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