Sri Lanka stocks snap back after five-day fall

ECONOMYNEXT- Sri Lanka stocks closed 0.22 percent higher on Friday, reversing a 5-day fall, with the market dominated by negotiated trades, brokers said.

Colombo’s All Share Price Index (ASPI) closed 12.40 points up at 5,689.90.

The index reached an intra-day high of 5,690.37 in early afternoon, gaining after a depressed morning, when the index fell to a low of 5,673.42.

The S&P SL20 of more liquid stocks closed 0.38 percent or 10.37 points up at 2,755.15.

The market turnover was 558 million rupees with 48 stocks gaining and 47 falling.

There was heavy foreign investor participation with 217.3 million rupees in net sales.

Seven crossings (negotiated trades) in index-heavy John Keells Holdings at 151.50 rupees a share contributed to 81 percent of the day’s turnover, brokers said.

Sri Lanka Telecom closed 80 cents higher at 29.00 rupees a share, contributing most to the ASPI gain.

Hatton National Bank closed 3.00 rupees higher at 156.20 a share and LOLC Holdings closed 1.80 rupees up at 125.00 rupees a share also contributing to the ASPI gain.
(Colombo/Oct 04/2019)

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