ECONOMYNEXT – Sri Lanka shares closed 2.99 per cent larger Wednesday recouping some losses a day after the largest at some point level fall in its historical past, brokers mentioned.
The Benchmark All Share Index recovered and got here underneath promoting strain twice within the day fallig to an intra-day low of seven,975.97 factors, earlier than closing at 8,244.50 factors up 239.18 factors.
The S&P SL20 of extra liquid shares gained 3.33 per cent or 106.07 factors to shut at 3,293.45.
Turnover was 6.2 billion rupees.
“The drop the market yesterday was sentiment-driven and the basics and incomes potential of the businesses haven’t modified,” Naveed Majeed, Co-Head of Analysis Asia Securities mentioned.
“So this gives a pretty choice for traders to get again to the market as we noticed right now.”
Internet international gross sales have been 285 million rupees.
The market worth of shares grew 104.5 billion rupees, recovering a few of the 245 billion rupees misplaced on Tuesday
Royal Ceramic Lanka closed 15.50 rupees up at 335.25 rupees amid a dramatic reversal of an import leisure.
Sri Lanka’s rupee got here underneath strain amid cash printing in 2020, which triggered import controls. Low charges from extra liquidity had additionally pushed up shares.
Lanka Ceramic closed 6.75 rupees down at 170.25 rupees.
LOLC Holdings gained 19.25 rupees to shut 485.75 rupees a share contributing most for the ASPI acquire.
LOLC Improvement Finance, part of LOLC holdings, closed flat at 103.25 rupees a share.
John Keells Holdings gained 3.25 rupees to shut at 159.00 rupees, with a market capital of 209.7 billion rupees.
Browns Investments, closed flat at 6.40 rupees a share whereas its guardian Brown and Firm gained 8.50 rupees to shut at 208.25 rupees.
Vallibel One, managed by Dhammika Perera closed 3.20 rupees up at 69.50 rupees with 75 billion rupees of market capitalization. LB Finance fell 1.00 rupees to shut at 257.00 rupees.
Hayleys Plc, gained 23.25 rupees to shut at 734.50 rupees a share with key subsidiaries Dipped Merchandise gaining 51.25 rupees to shut at 664.50 rupees and Haycarb Plc gaining 60.25 rupees to shut at 1,120.50 rupees.
The Kingsbury Plc one other subsidiary of Hayleys group closed flat at 12.50 rupees.
Hatton Nationwide Financial institution closed 5.50 rupees up at 144.50 rupees, Business Financial institution of Ceylon gained 3.10 rupees to shut at 93.00 rupees, DFCC Financial institution closed 2.90 rupees up at 68.90 rupees whereas Sampath
at 75 cents down at 179.75 rupees.
Nations belief financial institution gained 1.50 rupees to shut at 61.90 rupees and Seylan Financial institution gained 4.40 rupees to shut at 57.30 rupees whereas Pan Asia Banking Company gained 70 cents to shut at 19.10 rupees.
Central Finance Firm gained 9.50 rupees to shut at 120.00 rupees, Alliance Finance Firm gained 90 cents to shut at 55.00 rupees and Residents Improvement Enterprise Finance gained 4.75 rupees to shut at 120.00 rupees.
Sinhaputhra Finance closed 20 cents down up at 8.30 rupees a share whereas Housing Improvement Finance gained 2.90 rupees to shut at 40.80 rupees and Softlogic finance closed 30 cents up at 11.80 rupees a share.
Cargills Ceylon gained 3.75 rupees a share to shut at 239.50 rupees, Hemas Holdings gained 3.70 rupees to 93.50 rupees, Distilleries Firm gained 20 cents to shut at 21.20 rupees and Melstacorp gained 2.60 rupees a share to shut at 62.40 rupees.
Within the lodge sector, Eden Resort Lanka gained 20 cents to shut at 11.70 rupees and John Keels Accommodations closed 10 cents up at 10.90 rupees a share, Sigiriya Village lodge closed 50 cents up at 37.50 rupees, Aitken Spence Resort Holdings gained 2.00 rupees to shut at 33.90 rupees.
Ceylon Tobacco Firm gained 18.75 rupees to shut at 1,114.25 rupees whereas Ceylon Chilly shops closed 3.75 rupees up at 689.50 rupees.
Carson Cumberbatch gained 9.00 rupees to shut at 313.00 rupees whereas Entry Engineering gained 80 cents to shut at 27.00 rupees.
Nestle Lanka closed 19.00 rupees down at 1,216.25 rupees whereas Aitken Spence Plc closed 2.10 rupees up at 66.70 rupees.
Sri Lanka Telecom closed 1.10 rupees up at 37.00 rupees, Dialog Axiata closed 20 cents up at 12.50 rupees whereas and Richard Pieris and Firm closed 1.00 rupees up at 15.90 rupees.
EB Creasy and Firm closed flat at 5,613.75 rupees.
The Capital Items Business was probably the most energetic, gained 3.3 % and Diversified Monetary Business which was additionally energetic gained 3.8 % right now. (Colombo/Feb03/2021)