Sri Lanka stocks end the day crossing 6,000 benchmark

Sri Lanka stocks end the day crossing 6,000 benchmark

Sri Lanka stocks end the day crossing 6,000 benchmark

Written by Zeenath Musafer

05 Nov, 2020 | 5:02 pm

Colombo (News 1st); Despite volatility in the international markets due to the US election, Sri Lanka’s Stock Market displayed steady growth on Thursday (05), by gaining 1.66 percent and recording a three week high turnover of more than Rs.4 Bn.

The All Share Price Index gained 98.20 Bps to close at 6,004.11, while the S&P SL20 gained 1.28 percent, 29.57 Bps higher to close at 2,347.40.

Turnover was recorded at Rs. 4,280,404,111, the highest in three weeks.

The benchmark ASPI was upward trending throughout the day, backed by positive investor confidence due to exceptional earnings, market analysts said.

Sri Lanka sold less than half the T-Bills offered at the CBSL’s weekly auction yesterday (04) while receiving bids worth Rs.52.3 Bn, just 1.3 percent of what was offered.

At the weekly T-bill auction, only LKR 19.0Bn was accepted out of the total offered amount of LKR 40.0Bn, notably, all three maturities were accepted at the same rate as last week.

Maturities 15.07.23 traded in the range of 5.87%-5.90% levels, 01.08.24 traded at 6.30%, 15.09.24 traded at 6.20%, and 01.07.28 traded at 7.15%.

The 3M bill and 6M bill was accepted at 4.57% and 4.69% respectively, in addition, the benchmark 1-Yr T-bill was accepted at 4.96%.

The auction saw under subscription in all three maturities.

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