Sri Lanka stocks close up 0.88-pct; Carson Cumberbatch, DCSL gain

Sri Lanka’s Colombo Stock Exchange finished Friday, October 16, higher for a second consecutive session. The All Share Price Index (ASPI) rose 213.90 points, or 1.07%, to 20,185.05, and the S&P SL20 advanced 46.74 points, or 0.82%, to 5,745.76, according to EconomyNext’s report of CSE data.

Dialog Axiata, Ceylon Cold Stores and Distilleries Company were among the main positive contributors, rising 3.53%, 3.63% and 2.95%, respectively. Softlogic Capital also gained 15.38%. Among notable decliners were Carson Cumberbatch, down 3.07%, and LOLC Finance, down 2.08%. Friday turnover totalled Rs. 1.14 billion. Materials led industry-group turnover with Rs. 273.33 million, followed by banks with Rs. 236.3 million. EconomyNext reported crossings in four stocks, with the largest, in CIC Holdings, valued at Rs. 46.5 million.

The Friday recovery followed Thursday’s 0.88% rise in the ASPI to 19,971.15 and a 0.40% increase in the S&P SL20. Thursday turnover was Rs. 1.5 billion, led by the Food, Beverage & Tobacco group. Across the full week, however, the ASPI declined 0.65% and the S&P SL20 fell 0.86%, according to Daily FT.

Separately, EconomyNext reported that Vidullanka had received a Letter of Acceptance for a US$1.35 million turnkey engineering, procurement and construction contract from Fiji’s Department of Energy. The project covers a 100-kilowatt mini-hydro plant at Buca Village, including design, supply, installation, testing and commissioning. The company described it as its entry into the Pacific island region.

EconomyNext also reported company announcements on Thursday: Commercial Credit and Finance obtained central-bank approval for an unsecured, five-year subordinated loan facility of Rs. 1 billion to support its Tier II capital and regulatory capital adequacy. At Siyapatha Finance, deputy chairman Rushanka Silva is due to become chairman on October 30, following Palavinnege Sumith Cumaranatunga’s retirement the previous day; independent non-executive director Widanalage Deshal Praveen de Mel was named senior independent director.

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.