Bullish run extends for fifth day

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The bullish run at the Colombo Stock Exchange continued for the fifth consecutive session on Friday (24) as the benchmark index gained on a relatively lower turnover with continued foreign exits from the Colombo Bourse.

The benchmark All Share Price Index, which started the day at 7,556.09 points on Friday (24), gained 1.26 per cent (95.10 points) to close the day at 7,651.19 points.The S&P SL20, representing the top 20 companies traded on Colombo Bourse, which started at 2,431.44 points, gained 1.59 per cent (38.75 points) to close at 2,470.19 points.

The Colombo Stock Exchange saw a daily turnover of Rs 1.24 billion on Friday (24), higher than Rs 1.1 billion recorded the previous day.

The Colombo Bourse witnessed a foreign outflow worth Rs 39 million on Friday (24) as foreigners sold shares worth Rs 68 million, as against purchases of Rs 29 million.  More than 44.69 million shares changed hands on Friday (24) during 12,057 trades that took place. Shares of more than 233 companies were traded during the day, of which 112 emerged as winners ahead of 55 winners. Expolanka Holdings, LOLC Holdings, Hayleys, Aitken Spence and Melstacorp pushed the benchmark index up despite attempts by Sampath Bank, CIC, Commercial Bank, Dialog and LVL Energy Fund to drag it down.

Top ten gainers during the day were: Blue Diamonds (non-voting), Serendib Hotels, Nation Lanka Finance, Tangerine, Dolphin Hotels, Ceylon Tea Brokers, Citrus Waskaduwa, Autodrome, Dankotuwa Porcelain and Sigiriya Village.

Top losers were: ACME, Serendib Hotels (non-voting), Gestetner, Chrissworld, Royal Palms Beach Hotels, Hayleys Leisure, MyLand Developments, Blue Diamonds, Vidullanka (non-voting) and Mullers and Phipps.

By Mario Andree