Market crosses 6,000 points with turnover reaching Rs 4.2 bn | Daily News

Market crosses 6,000 points with turnover reaching Rs 4.2 bn

The Colombo Stock Exchange ASPI crossed the 6,000 point mark yesterday. Market growth was driven by LOLC, Dipped Products, Dialog, Hayleys, and Browns Investments all contributing over five points to the index.

State Minister of Capital Markets Ajith Nivad Cabraal took to twitter to state “Happy to see the ASPI is clawing back to 6,000. It was 7,300 by the end 2014, when I relinquished office as CB Governor.”

In a later tweet Cabraal noted the trade deficit contraction by US$1 billion during the 8 months ending August and interest rates remaining low for 10 months.

In total 124 companies contributed positively to the index while 66 companies contributed negatively. Market turnover was Rs 4.2 billion. The market rose 1.66 percent or 98.2 points in the days trading. The S&P SL20 rose 1.28 percent or 29.57 points.

JKH declared a cash dividend of Rs .5 payable on December 7. Dipped Products, a subsidiary of Hayleys, was able to post a profit of Rs 2.1 billion comparable to last year’s Rs. 327 million on the back of a 33% increase in turnover for the 6 months period from April.

Serendib Hotels, a subsidiary of Hemas, announced to the market that the parent company had issued corporate guarantees to group assets in the leisure sector. The company was able to limit the fall in revenue due to the COVID-19 pandemic to 83 percent from last year