Sri Lanka stocks close up 0.8-pct

July 24, 2015 (LBO) – Sri Lanka’s stocks closed up 0.78 percent on Friday mainly due to the Central bank announcement that policy rates would be maintained, brokers said.

The Colombo benchmark All Share Price Index closed 56.43 points higher at 7,269.05 up 0.78 percent.

The S&P SL20 closed 40.90 points higher at 4,082.11 up 1.01 percent.

Turnover was 1.6 billion rupees, down from 2.21 billion rupees Thursday with 131 stocks closing positive against 41 negative.

The main index showed gains in John Keels Holdings closing at 193.50 rupees, up 3.50 rupees with over 750,000 shares traded off the floor at prices ranging from 193.50 to 194.00 rupees.

Sri Lanka Telecom closed at 49.60 rupees, up 0.90 rupees.

“The main reason for the gain was the announcement by the Central Bank on policy rates,” Lanka Securities said.

The Monetary Board decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank unchanged at 6.00 per cent and 7.50 per cent, respectively.

In banking stocks, Commercial bank closed at 170.00 rupees, up 1.70 rupees with a off the floor trade of 943,000 shares at 169.00 rupees.

DFCC closed at 198.10 rupees, up 0.10 rupees.