Economy & Market

Sri Lanka stocks end the week up, having dropped 4.85-pct from last Friday

Sri Lanka’s Colombo Stock Exchange closed up on Friday, with capital goods generating the most turnover. The market has dropped 4.85 percent from last Friday.

The All Share Price Index closed up 1.85 percent, or 375.72 points, at 20,639.73.

The S&P SL20 closed up 1.86 percent, or 105.30 points at 5,756.71.

Market volatility is expected to continue as long as the conflict in West Asia continues.

Investors have been more reactive than most foreign stock markets, brokers said.

Sampath Bank (up 3.24 percent at Rs.151.50), Hayleys (up 4.67 percent at Rs.207.50), Colombo Dockyard (up 6.83 percent at Rs.121.25), Melstacorp (up 1.85 percent at Rs.165.00), and John Keells Holdings (up 1.67 percent at Rs.18.30) were the top positive contributors to the ASPI.

The market turnover was 4.39 billion rupees. Most of this was seen in capital goods (1.84 billion rupees).

Lanka Realty Investments announced plans to sell 57,204,262 shares held in Lanka Realty Developments to its subsidiary Lee Hedges for Rs.1,610,334,180. The stock closed up 3.36 percent at Rs.43.10.

source: Economy Next