ECONOMYNEXT – The Colombo Stock Exchange closed up on Friday, data on its site showed.
The broader All Share Index closed up 0.02 percent, or 2.85 points, at 11,442; while the more liquid S&P SL20 Index closed up 0.26 percent, or 8.53 points, at 3,290.
Turnover was 776 million.
“There was foreign appetite on John Keells Holdings Plc,” Softlogic Stockbrokers said. “This brought in 56 million, about 11 percent of the total turnover.”
John Keells Holdings Plc was the top turnover generator of the day, and closed up at 180.25.
“There was also some renewed interest in companies that had palm oil cultivation in their portfolios, because the government has indicated a lifting of the ban on palm oil cultivations.”
Watawala Plantations Plc, which released interim results, showed a slump in profits on a Q-o-Q basis, though up on a Y-o-Y basis. “This was mainly due to their exposure to palm oil and dairy, which recorded low volumes.”
The banking counter was mostly down while an IMF team was in the island to discuss future measures. The international lender has said it will continue to support Sri Lanka’s ongoing debt restructuring efforts.
Of the bigger banks Sampath Bank Plc was down at 75.20, Hatton National Bank Plc was down at 186.00, while Commercial Bank of Ceylon Plc was up at 93.00, and DFCC Bank Plc closed flat at 70.00.
The top turnover generators for the day were John Keells, Hunas Holdings Plc (up at 30.30), Hayleys Fabric Plc (up at 48.60), Melstacorp Plc (up at 80.80), and Access Engineering Plc (flat at 21.80).
A net foreign inflow of 66 million rupees was recorded. (Colombo/Aug2/2024)