Sri Lanka stocks gain on food and beverage, banking
Tuesday August 13, 2019 16:29
ECONOMYNEXT – Sri Lanka’s stocks closed 0.10 percent higher on Tuesday, pushed up by banking and consumer goods stock.
Colombo’s All Share Price Index (ASPI) closed 6.19 points higher at 5,949.30, gaining for the second consecutive day.
The index rallied past the psychological 6,000 mark to 6,016.76 in the first half hour of trade on Tuesday, before continuing to fall throughout the day.
The S&P SL20 Index of more liquid stocks closed 0.18 percent or 5.21 points up at 2,960.58.
The market turnover was 2.6 billion rupees with 81 stocks gaining and 72 stocks declining.
Four crossings (negotiated trades) in John Keells Holdings generated 348 million rupees in turnover and a single 23 million rupee crossing was seen in Commercial Bank.
Two thirds of the daily turnover was through John Keells Holdings (1.5 billion rupees) and Access Engineering (179 million rupees).
Brokers said that retail activity centred on Access Engineering, Tokyo Cement Company (Lanka) non-voting and Sampath Bank stock.
Lion Brewery Ceylon, Sri Lanka’s largest beer maker, closed 18.70 rupees up at 570.00 rupees a share contributing most to the ASPI.
The largest private lender Commercial Bank closed 1.20 rupees up at 109.10 rupees a share and multinational Nestle Lanka closed 21.30 rupees up at 1,321.40 rupees a share, also pushing the ASPI up.
(COLOMBO, 13 Aug, 2019)