Sri Lanka stocks recover at open

ECONOMYNEXT – Sri Lanka’s stocks recovered after opening on Wednesday with the benchmark All Share Price Index gaining 1.3 percent in the first half-hour of trading, after falling to an eight-year low a day earlier.

“The low prices are bringing in some buying interest,” a broker said.

ASPI gained 65.44 points to 5,187.35 and the S&P SL20 index of most liquid stocks up 2.05 percent or 48.46 points to 2,410.21 within an hour of trade.

Market turnover was 72.9 million rupees while 80 stocks profited and 20 fell.

Sri Lanka Telecom stocks up 2.60 rupees to 26.90 rupees a share, Hatton Nation Bank stocks gained 5.90 rupees to 134.90 rupees a share and Melstacorp stocks up 4.10 rupees to 34.00 rupees a share, contributing most to ASPI’s gain.

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