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Monday May 10th, 2021
Markets

Sri Lanka stocks gain to three-month high

ECONOMYNEXT- Sri Lanka’s stocks closed 0.55 percent up on Thursday at a three-month high, after breaching the psychological 6,000 level minutes before closing.

Colombo’s All Share Price Index (ASPI) closed 32.97 points up at 5,990.24, gaining throughout the day.

First Capital, a brokerage, said that the ASPI reached the 6,000 mark just before market close.

The ASPI made the highest daily gain in 13 weeks and recorded the highest turnover in six weeks, reversing the marginal fall on Wednesday, First Capital said.

The ASPI is now at the highest since July 29, when the market was at 5,995.20.

The S&P SL20 Index of more liquid stocks closed 1.01 percent or 29.78 points up at 2,980.11, mirroring the main index.

Market turnover was 1.3 billion rupees, with 97 stocks gaining and 57 falling.

Amid high foreign investor participation, the market recorded 102.1 million rupees in net outflows.

Foreigners bought in index-heavy conglomerate John Keells Holdings (JKH) and knit fabric maker Teejay Lanka and sold in Royal Ceramics, Commercial Bank and Overseas Realty (Ceylon).

HNB Bank contributed most to the ASPI gain, closing 5.10 rupees up at 182.80 rupees a share.

There were two crossings (negotiated trades) on JKH of 1.6 million shares at 157 rupees a share, generating 252.6 million rupees in turnover.

The JKH stock closed 50 cents down at 157 rupees a share and contributed 30 percent to the daily turnover.

Another crossing took place in Seylan Bank generating 55 million rupees and Sampath Bank for 20.4 million rupees. (Colombo/Oct31/2019)

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