Sri Lanka stocks up 0.6-pct with Hayleys units, ceramics

ECONOMYNEXT – Sri Lanka stocks rose 0.60 percent, with several Hayleys stocks re-gaining momentum after an earlier sell-off and ceramic firms also drawing interest after an import control was extended which can give them more tax-arbitrage profits and state supported market share, brokers and analysts said.

Colombo’s All share price index gained 0.60 percent or 49.33 points to close at 8,293.83.

The index reached an intraday high at 8357.97 during the first hour in to trading and fell to a daily low at 8,247.26 but picked up and close at marginally high on volatile trading.

The S&P SL20 index of more liquid stocks gained 0.33 percent or 10.85 points to close at 3,304.30.

Turnover was 5.1 billion rupees with 113 stocks gaining and 80 falling.

Expolanka Holdings closed 4.40 rupees or 8.82 percent up at 54.30 rupees a share contributing most for the ASPI gain.

Hayleys Plc, gained 47.25 rupee to close at 781.75 rupees a share with key subsidiaries Dipped Products rising42.25 rupees to close at 706.75 rupees and Haycarb Plc gaining 148.25 rupees to close at 1,268.75 rupees.

Singer Industries Ceylon closed 9.75 rupees up at 110.00 rupees and Hayleys Fabrics gained 2.60 rupees to close at 37.00 rupees a share.

The Kingsbury Plc closed flat at 13.50 rupees andUnisys Engineering closed 50 cents up at 17.00 rupees,

Royal Ceramic Lanka closed 13.75 rupees up at 349.00 rupees, Lanka Tiles gained 18.75 to close at 251.75 rupees, Lanka Ceramic closed 17.00 rupees up at 187.25 rupees and Lanka Walltiles closed 16.75 rupees upat 253.75 rupees.

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Sri Lanka reversed an import control, with the tiles and sanitaryware already taxed at high levels, allowing domestic producer to get large profits from state controlled trade.

John Keells Holdings fell 3.75 rupees to close at 155.25 rupees and Brown and Company fell 8.00 rupees to close at 200.25 rupees.

Hatton National Bank closed 3.75 rupees up at 148.25 rupees, Commercial Bank of Ceylon fell 30 cents to close at 92.70 rupees, DFCC Bank closed 1.00 rupees down at 67.90 rupees and Sampath Bank closed 3.50 rupees down at 176.25 rupees.

Nations Trust Bank fell 50 cents to close at 61.40 rupees and Seylan Bank fell 30 cents toclose at 57.00 rupees and Pan Asia Banking Corporation fell 20 cents to close at 18.90 rupees.

Central Finance Company fell 25 cents to close at 119.75 rupees and Alliance Finance CompanyClosed flat at 55.00 rupees while Citizens Development Business Finance gained 2.25 rupeesto close at 122.25 rupees.

Sinhaputhra Finance closed 30 cents down at 8.00 rupees a share while Housing DevelopmentFinance gained 1.20 rupees to close at 42.00 rupees and Softlogic finance closed 20 cents up at 12.00rupees a share.

Cargills Ceylon fell 4.00 rupees a share to close at 235.50 rupees, Hemas Holdings fell 1.20 rupeesto 92.30 rupees, Distilleries Company fell 30 cents to close at 20.90 rupees and Melstacorp fell 50 cents a share to close at 61.90 rupees while Ceylon Grain Elevators gained 17.50 rupees or 13.62 percent to close at 146.00 rupees.

In the hotel sector Eden Hotel Lanka gained 60 cents to close at 12.30 rupees and Sigiriya Village hotel closed 50 cents up at 37.50 rupees while John Keels Hotelsclosed 3.75 rupees down at 155.25 rupees a share, Aitken Spence Hotel holdings fell 30 cents to close at 33.60 rupees.

Ceylon Tobacco Company gained 2.50 rupees to close at 1,116.75 rupees, Ceylon Cold Stores closed 5.50 rupees up at 695.00 rupees and Piramal Class Ceylon gained 10 cents to close at 9.70 rupees

Carson Cumberbatch gained 2.00 rupees to close at 315.00 rupees while Access Engineering fell 10cents to close at 26.90 rupees.

Nestle Lanka closed 12.25 rupees down at 1,204.00 rupees while Aitken Spence Plc closed 30 cents up at 67.00 rupees.

Sunshine Holdings gained 3.50 rupees to close at 96.60 rupees a share.

Sri Lanka Telecom closed 80 cents up at 37.80 rupees, Dialog Axiata closed flat at 12.50 rupees and Richard Pieris and Company closed 50 cents down at 15.40 rupees.

The Capital Goods Industry was the most active, gained 0.11 percent and Materials Industrywhich was also active gained 4.7 percent today. (Colombo/Feb05/2021)

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