Sri Lanka stocks rally for sixth day with buying in John Keells Hotels

ECONOMYNEXT- Sri Lanka’s stocks close 0.47 percent higher on Thursday, continuing a rally for the sixth consecutive day, provisional data showed.

Colombo’s All Share Price Index closed 27.94 points higher at 5,916.28, after reaching an intra-day high of 5,923.56 in mid-afternoon, following which the market shed some points.

The more liquid S&P SL20 Index closed 0.34 percent or 10.01 points up at 2,932.36.

The market turnover was 731.3 million rupees. There was moderate foreign investor activity, with net outflows of 223.5 million rupees from the market.

John Keells Hotels closed 1.60 rupees up at 10.50 rupees a share, contributing most to the ASPI’s gain on Thursday.

KHL was the most active, with 124.7 million shares traded, 94 million rupees of which were through two negotiated trades (crossings) which took place at 10.50 rupees a share.

KHL results released after the market closed trading showed the firm posting 470.8 million rupees in losses for the September quarter, from a 3.1 million rupee profit a year earlier, due to the aftermath of the Easter Sunday bombings.

Meanwhile the telco Dialog Axiata closed 20 cents up at 12.10 rupees a share, also contributing to the ASPI gain.

A 34.5 million rupee crossing was recorded in Royal Ceramics at 69 rupees a share and it closed trading at 70.50 rupees a share. (Colombo/Oct24/2019)

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