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Sri Lanka stocks up 1.82-pct driven by JKH

ECONOMYNEXT- Sri Lanka stocks closed 1.82 percent higher on Thursday driven by bluechip stocks mainly John Keells Holdings, market analysts said.

Colombo’s main, All Share Price Index advanced 87.15 points to 4,887.11 pushed up by mainly by John Keells Holdings and Dialog Axiata.

The index followed an upward trajectory minutes after gaining at market open which continued until the market end.

The S&P SL20 index of more liquid stocks gained 2.46 percent or 49.52 points to 2, 063.88.

Market turnover was 1.2 billion rupees with 109 stocks making gains and 46 stocks falling.

Additionally, crossings in three companies, namely Expo Lanka, Hatton National Bank, and Sanasa Development Bank contributed to the market turnover.

Crossing in Expolanka Holdings totaled to 10 million shares traded at 270 rupees per share while the crossing in Hatton National Bank amounted to 534,000 shares traded at 104 rupees.

And Sanasa Development Bank recording a crossing of 2.4 million shares priced at 51 rupees.

John Keells Holdings shares closed at 115.80 rupees a share, up by 5.70 rupees or 5.18 percent today, contributing heavily to the ASPI’s spike.

Dialog Axiata, shares gained by 50 cents, trading at 10.60 rupees a share while Ceylon Tobacco Company stocks gained by 38.30 rupees to trade at 946.60 rupees a share, among the top three companies which dragged the index up.

Banking stocks continued to make gains throughout the week amid Coronavirus disruptions, CSE data showed.

However, market analysts said that the banking sector stocks received mixed buying and selling market pressure at the start of the day but at the latter part it made gains where most banking sector shares ending in green.

(Colombo/May28/2020)

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