Sri Lankan stocks end up 0.7-pct

(EconomyNext) – Sri Lankan stocks opened the year on a stronger note Friday with gains in almost all sectors and activity improving slightly, although still low given uncertainties ahead of next week’s presidential poll.

The All Share Price Index rose 49.44 (0.7 percent) to 7,348.39 while the S&P SL20 index, which tracks the top 20 largest and most liquid stocks on the Colombo Stock Exchange, rose 21.16 points (0.5 percent) to reach 4,110.30.

Turnover was a low 743 million rupees but more than that seen in recent days.

Gains in the benchmark index was led by Commercial Bank which ended at 174.90 rupees, up 3.90 or 2.28 percent, Carson which closed at 439.70, up two percent or 9.30 rupees, Sri Lanka Telecom, which went up one rupee or two percent to 50.90 rupees and Ceylon Beverage Holdings, the second highest gainer, up 10 percent or 75.50 to hit 800.70 rupees.

Access Engineering was the most actively traded stock, closing at 32.50 rupees, up 40 cents or 1.25 percent, and contributed 67 million rupees to the day’s turnover.

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