Market ends on positive note

Colombo stocks ended positive on Thursday, with the indices moving up. The ASPI gained 55 points (+3.5%) to 1,625, while the MPI which tracks the most liquid stocks rose 67 points (+3.8%) to 1,831.

Large cap stocks had accounted for much of the gains, while deals in Distilleries accounted for as much as 65% of turnover. DIST saw turnover of Rs 106.9 million, while the stock moved up to Rs 53.00, a gain of Rs 1.75.

Second largest contributor to turnover was Associated Property Developers, which accounted for Rs 16.8 million in turnover, while the stock ended up Rs 8.00 to close at Rs 60.00.

John Keells Holding which was the third largest contributor to turnover amounting to only Rs 2.9 million. JHK ended the day at Rs 62.50, up 25 cents. Foreign investments continued to pull of the country with sales exceeding purchases by Rs 107.7 million. Purchases for the day came up to just Rs 1.8 million.

Source: First Guardian Equities