Market positive

The indices at the Colombo Stock Exchange moved into positive territory for the second consecutive day with the ASPI gaining 28 points (+1.2%) to close at 2, 384 while the MPI which tracks the most liquid stocks in the market gained 47 points (+1.7%) to close at 2847.

Total turnover for the day was marginally lower compared to Wednesday's at Rs 113.3 million and was mainly driven by transactions in John Keells Holdings (Rs 25.2 million) which closed at Rs 100.75, Hayleys (Rs 14.4 million) which closed at Rs 141.25, Distilleries (Rs 7 million) which closed at Rs 88.00 and Associated Electricals (Rs 6.9 million) which closed at Rs 1,652.50 Index heavyweights Dialog, which moved up 25 cents to Rs 13.50, and Sri Lanka Telecom, up Rs 1.25 to Rs 44.50, along with other large cap stocks contributed to the improvement in the index.

Parquet (Ceylon) (PARQ) with a view of long term profitability is disposing some underutilised assets and is also disposing of company land, it said in a statement to the CSE.

The extent of land or the price expected is yet to be disclosed. PARQ ended the day at Rs 17.25

Source: First Guardian Equities