Sri Lanka stocks surge nearly 3-pct as US election boost drives investor return

EconomyNext reports that the Colombo Stock Exchange closed sharply higher on Thursday, with the All Share Price Index gaining 589.18 points, or 2.87%, to 21,130.30. The outlet says the more liquid S&P SL20 rose 226.89 points, or 3.89%, to 6,061.98.

EconomyNext quotes Dewangi De Silva, an assistant manager of research at NDB Securities, as saying the upward move that began the previous day continued after the US midterm elections and the Democratic Party’s victory. De Silva said the election result appeared to lift investor sentiment, bringing renewed buying across shares and more participation and trading activity.

EconomyNext reports that Overseas Realty (Ceylon) rose 7.82% to 53.80 rupees, LOLC Holdings gained 6.93% to 401.25 rupees, and Dialog Axiata advanced 3.78% to 46.70 rupees. Hayleys and Commercial Bank of Ceylon also rose. The outlet identifies Agarapatana Plantations, Ceylinco Holdings, First Capital Treasuries and Ceylon Tobacco Company among the largest negative contributors.

EconomyNext reports turnover of 5.43 billion rupees, with the S&P/CSE Banks Industry Group Index accounting for 1.10 billion rupees. The outlet also lists crossings in Lanka Milk Foods, Cargills Bank, Royal Ceramics Lanka and DFCC Bank among the day’s largest; its report excerpt ends while describing other notable crossings.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.