Sri Lanka’s stocks close 5-pct higher, recouping losses
ECONOMYNEXT – Sri Lanka stocks gained 5.1 percent on Friday, pushed up mainly by LOLC Holdings, Vallibel one and ExpoLanka holdings, recovering some of the losses made in the past week, Colombo Stock Exchange said.
Colombo’s All Share Price Index gained 387.19 points to close at 7,985.00 after gaining 5.1 percent today.
The S&P SL20 index of more liquid stocks gained 4.64 percent or 140.96 points to close at 3,180.24.
Market participants said that the market recouped due to the earnings reports which reported some strong earnings.
And as to why the market came down, participants said people with high credit exposure were asked to reduce their exposure so that reflected in the market and a bit of correction.
The market turnover was 5.1 billion rupees with 185 stocks gaining and 26 falling.
LOLC Holdings gained 33.25 rupees to close at 430.75 rupees, contributing most for the ASPI gain.
LOLC Finance, a part of LOLC, gained 1.00 rupee to close at 7.50 rupees. Brown and Company gained 19.25 rupees to close at 204.25 rupees while Browns investments gained 60 cents to close at 6.00 rupees.
Vallibel One gained 13.70 rupees or 26.35 percent to close at 65.70 rupees a share and Expolanka Holdings closed 4.60 rupees up at 51.80 rupees.
Subsidiaries of Hayleys group, The Kingsbury Plc closed 50 cents up at 12.50 rupees while Unisys Engineering closed 1.50 rupees up at 15.70 rupees, and Singer Industries Ceylon closed 6.20 rupees up at 95.40 rupees.
John Keells Holdings gained 2.25 rupees to close at 154.25 rupees.
In the Finance sector, Hatton National Bank closed 4.75 rupees up at 139.50 rupees, Commercial Bank of Ceylon gained 2.30 cents to close at 88.10 rupees, DFCC Bank closed 90 cents up at 65.80 rupees and Sampath Bank closed 9.25 rupees up at 1174.25 rupees.
Nations trust bank gained 2.70 rupees to close at 61.00 rupees and Seylan Bank gained 20 cents to close at 52.10 rupees and Pan Asia Banking Corporation gained 1.60 rupees to close at 18.10 rupees.
Central Finance Company gained 5.00 rupees to close at 110.00 rupees, and Citizens Development Business Finance gained 6.25 rupees to close at 121.25 rupees while Alliance Finance Company fell 1.20 rupees to close at 52.60 rupees.
Sinhaputhra Finance closed 10 cents down at 7.40 rupees a share while Softlogic Finance closed 20 cents up at 11.20 rupees a share and Housing Development Finance gained 10 cents to close at 40.10 rupees.
Cargills Ceylon gained 2.75 rupees a share to close at 237.50 rupees, Hemas Holdings gained 1.80 rupees to 89.00 rupees, Distilleries Company gained 1.50 rupees to close at 21.20 rupees and Ceylon Grain Elevators gained 8.25 rupees to close at 159.00 rupees and Melstacorp gained 6.70 rupees a share to close at 60.00 rupees.
In the hotel sector Eden Hotel Lanka gained 70 cents to close at 11.50 rupees, John Keels Hotels closed 20 cents up at 10.90 rupees a share and Aitken Spence Hotel holdings gained 80 cents to close at 32.70 rupees while Sigiriya Village hotel closed 70 cents down at 35.10 rupees.
Ceylon Tobacco Company gained 15.00 rupees to close at 1,100.00 rupees and Piramal Glass Ceylon closed 40 cents up at 9.60 rupees while Ceylon Cold stores closed 3.75 rupees down at 660.25 rupees.
Carson Cumberbatch gained 29.75 rupees to close at 308.75 rupees and Access Engineering gained 1.50 rupees to close at 26.50 rupees.
Nestle Lanka closed 33.75 rupees up at 1,190.00 rupees and Aitken Spence Plc closed 5.30 rupees down at 67.60 rupees.
Sunshine Holdings gained 2.90 rupees to close at 86.80 rupees a share.
Richard Pieris and Company closed 1.10 rupees up at 15.50 rupees.
Sri Lanka Telecom closed 1.80 rupees up at 37.30 rupees and Dialog Axiata closed 10 cents up at 12.20 rupees.
Royal Ceramic Lanka closed 53.25 rupees or 19 percent up at 333.50 rupees, Lanka tiles gained 50.25 rupees or 27.09 percent to close at 235.75 rupees, Lanka Wall tiles closed 64.50 rupees or 33.59 points up at 256.50 rupees and Lanka Ceramic closed 18.00 rupees up at 166.25 rupees.
The Capital Goods Industry which was the most active gained 7.2 percent today. (Colombo/Feb 12/2021)
Reported by Chanka Jayasinghe and Mahadiya Hamza