Sri Lankan stocks rally again, Access up 7.8-pct

COLOMBO (EconomyNext) – Sri Lankan shares ended higher Thursday for the third straight day, with some firms whose prices weakened in the recent sell-off recovering sharply, brokers said.

The All Share Price Index rose 32.06 points (0.5 percent) to close at 6948.12 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, gained 8.91 points (0.2 percent) to close at 3909.58.

Turnover was 729 million rupees with a single crossing or off-the-floor negotiated deal of 130,000 shares of John Keells Holdings at 203 rupees each.

SC Securities said Access Engineering, which had slumped after it lost an 85 million US dollar airport repair deal, gained 7.84 percent to close at 22.00, and was the main contributor to the index gains.

Foreign institutional investors were net buyers of 68 million rupees worth of shares.


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