ECONOMYNEXT – Sri Lanka shares were up at close of trading on Wednesday ahead of the four-day weekend and due to some speculative activity.
“There was some positivity with the rating upgrade,” an analyst said. “And after rates falling with yesterday’s bill auction.”
“There was some activity in the export-related counters and also the primary dealing unit on speculation of potential dividends.”
“I think the speculation on dividends pushed the market up.”
Turnover was 1.3 billion rupees.
Trading in the capital goods (365,814,915), food, beverage and tobacco (220,411,553) and banks (172,212,877) drove turnover.
The main All Share Price Index was up 0.78 percent or 87.45 points to 11,335.61, while the more liquid S&P SL20 was down 1.20 percent or 37.93 points to 3,203.89.
Commercial Bank, Sampath Bank and C T Holdings (formerly known as Ceylon Theatres) saw gains, while Melstacorp and Amana Bank saw marginal losses. (Colombo/Sep27/2023)