Sri Lanka stocks rally to a close, 0.72-pct higher
ECONOMYNEXT- Sri Lanka stocks closed 0.72 percent higher on Tuesday following a rally after mid-day, brokers said.
Colombo’s main All Share Price Index (ASPI) advanced 36.57 points to close at 5,083.07.
The index followed an upward trajectory reaching an intra-day high of 5,093.61 within the first half-hour of trading after which it fell sharply. The index then rallied after mid-day coming to a close on a positive note at 5,083.07.
The S&P SL20 index of more liquid stocks climbed 1.63 percent or 36.22 points up at 2,257.57.
Market turnover amounted to 1.61 billion rupees on Tuesday with 99 stocks making gains while 68 fell.
The day’s turnover was boosted by HNB voting shares which contributed around 192 million rupees in normal trading.
Three crossings were seen in Hemas, Brown & Company and Commercial Bank voting shares which amounted to 114 million rupees, 25.6 million rupees and 22.5 million rupees respectively.
Banking sector contributed 697 million rupees in turnover while Capital goods and Material sectors contributed 442 million rupees and 137.8 million rupees respectively.
Retail activity for the day was high with 14,668 trades done in trading, brokers said.
Retail activity was mainly centered on Browns Investment, Commercial Bank voting shares, Royal Ceramics, HNB and Sampath Bank.
Lion Brewery Ceylon dragged the ASPI up for the day, trading at 549.70 rupees a share, climbing 49.70 rupees.
Dialog Axiata shares traded 30 cents up at 11.80 rupees a share while Melstacorp shares were 1.80 rupees higher, trading at 31.50 rupees a share, also contributing to the ASPI’s gain.