Shares recover

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The two-day bearish run at the Colombo Stock Exchange ended on Friday as the country witnessed some of the essential supplies being distributed across the country. The benchmark index recovered on a relatively modest turnover despite continued foreign exits from the Bourse.

The benchmark All Share Price Index, which started the day at 8,173.86 points on Friday (20) gained 1.12 per cent (91.75 points) to close the day at 8,265.61 points.

The S&P SL20, representing the top 20 companies traded on Colombo Bourse, which started at 2,703.70 points, gained 1.75 per cent (47.21 points) to close at 2,750.91 points.

The Colombo Stock Exchange saw a daily turnover of Rs 1.97 billion on Friday (20) higher than Rs 1.59 billion recorded the previous day.

The Colombo Bourse witnessed a foreign outflow worth Rs 120 million on Friday (20) as foreigners sold shares worth Rs 304 million as against purchases of Rs 184 million. 

More than 65 million shares changed hands on Friday (20) during 14,808 trades that took place.

Shares of 241 companies were traded during the day of which 116 emerged as winners comfortably ahead of 54 losers.

Expolanka Holdings, LOLC Holdings, Browns Investment, Hayleys and Dialog Axiata pushed the benchmark index up despite attempts by Ceylinco Insurance, John Keells Holdings, LB Finance, National Development Bank and Dipped Products to drag it down.

The top ten winners during the day were: Industrial Asphalt, Ramboda Falls, Nation Lanka Finance, Softlogic Life, SMB Leasing, Laugfs Gas (non-voting), Union Bank, Asia Siyaka Commodities, Asia Capital and Lee Hedges.

Top losers were: Singer Industries, Laxapana Batteries, Blu Diamonds, Commercial Credit, Chemanex, EB Creasy, Citrus Leisure, Serendib Leisure, Serendib Hotels (non-voting), Palm Garden Hotels and LB Finance.

By Mario Andree