Sri Lankan stocks surge on eve of presidential vote

Sri Lankan stocks closed on an all time high on the eve of Thursday’s crucial presidential vote with punters betting on opposition leader walking away with the country’s top job. Sri Lankan stocks closed on an all time high on the eve of Thursday’s crucial presidential vote with punters betting on opposition leader walking away with the country’s top job. The benchmark All Share Price Index jumped 133 points to 2,568, while the liquid Milanka Price Index leaped 156 points to 3,378, according to provisional data posted on the Colombo Stock Exchange website.

Wednesday’s stampede generated a Rs. 1.34 billion turnover, though foreign investors were net sellers with Rs. 301 million.

“Investors are quite confident of Ranil Wickremesinghe (opposition leader) winning the race tomorrow,” said Vajira Premawardhana, Head of Research Lanka Orix Securities Ltd.

Market heavyweight Dialog Telekom, a unit of Telekom Malaysia, dominated the day, gaining Rs. 2.00 to Rs. 21.00 on 160 million trades.

Shares of diversified conglomerate John Keells Holdings, rose Rs. 4.00 to Rs. 172.00 on 142 million trades.

Elsewhere, Commercial Bank of Ceylon – Sri Lanka’s most profitable pr