ECONOMYNEXT – Sri Lanka stocks closed 1.35 percent higher on Friday, gaining past a 5-month high, pushed up by Ceylon Cold Stores, brokers said.
Colombo’s All Share Price Index (ASPI) closed 78.23 points higher at 5,872.89, gaining throughout the day.
The ASPI is now higher than the 5,839.04 level seen on February 21.
The benchmark index bottomed out on May 15 at 5,199.98 and has been gaining since.
The ASPI has now gained for four straight days, after a fall on Monday amid profit-taking.
The central bank’s price controls on fixed deposits are pushing investors into equity, brokers said.
The S&P SL20 index of more liquid stocks closed 1.64 percent or 47.26 points up at 2,927.80.
The market turnover was 1.2 billion rupees with 109 stocks gaining and 54 stocks declining.
A crossing in Commercial Bank of Ceylon amounted to 178 million rupees whereas a crossing in John Keells Holding added up to 95 million rupees.
Ceylon Cold Stores closed 114.50 rupees up at 714.50 rupees a share contributing most to the rise of the ASPI, albeit with low turnover.
Sri Lanka Telecom closed 2.80 rupees up at 27.10 rupees a share and Hatton National Bank closed 11.90 rupees up at 169.90 rupees a share, also pushing the ASPI up.
(COLOMBO, 26 July, 2019)