Market Up 2.06

Sri Lankan shares Market end green. Expect said main reason for change after regulators lifted price restrictions imposed to curb speculation.

All Share Price Index rose 111.25 points (2.06 percent) to 5,518.72, and Milanka index rose 43.79 points (0.89 percent) to close at 4,950.94. Total Turnover improved to 359 million rupees.

The Securities and Exchange said it was lifting a 'price band' imposed on volatile stocks but would continue to monitor the market and re-impose it if needed. 

Active Trading

Commercial Bank was the most actively traded stock, closing at 105.10 rupees, up 3.30 rupees, followed by the bank's non-voting shares which ended at 84.10 rupees, up 4.10. Index heavyweight John Keells Holdings closed at 205 rupees, down 3.50. 

Market expect said foreign participation was at 30 percent of total market activity and at the end of the day foreign investors were net buyers with a net foreign inflow of 49.2 million rupees. "Even though the low volumes were recorded, strong price appreciations in high dividend payers such as Ceylon Tobacco and Nestle Lanka contributed positively to the market performances," they said. 

SMB Leasing non-voting shares were the top gainer closing at 50 cents, up 10 cents with over 1.2 million shares done. Kuruwita Textile Mills was the next highest gainer, ending at 26.90 rupees, up 4.70, followed by Ceylon Tea Brokers, which closed at 5.80 rupees, up 90 cents.

Bank, Finance and Insurance sector became the highest contributor to the market turnover (due to voting, non-voting and Hatton National Bank non the sector index gained 1.82%.