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Sri Lanka stocks rebound 1.61-pct from 8-year low

ECONOMYNEXT-Sri Lanka stocks rebounded 1.61 percent Wednesday recouping some of the losses from a record 4.14 percent plunge a day earlier which left the benchmark at an eight year low.

The Colombo main All Share Price Index (ASPI) closed 82.61 points higher at 5,204.52 and the S&P SL20 index of more liquid stocks gained 2.24 percent or 53.01 points to end at 2,414.76.

Turnover in Colombo reached 428.8 million rupees with 132 stocks gaining and 36 falling.

Index-heavy Sri Lanka Telecom last traded 2.50 rupees up at 26.80 rupees a share, contributing most to the ASPI’s gain.

Stocks recovered with bottom fishers entering the market, with 132 stocks making gains while 36 extended losses.

Index heavy John Keells Holdings closed 3.0 rupees higher to end at 136.0, Commercial Bank closed up 80 cents at 78 rupees.

Asian markets continue to fall on Wednesday as the investors started withdrawing from the stock market with the continues effects of the coronavirus. Tokyo fell 2.3 percent, Shanghai 0.9 percent, Hong Kong 0.6 percent. (Colombo/Mar11/2020)

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