Sri Lanka’s stocks surge on positive earnings reports

May 22, 2015 (LBO) – Sri Lanka’s stocks rose 15.04 points, Friday following a slump yesterday mainly due to positive earnings reports and dividend announcements, brokers said.

The All Share Price Index rose 15.04 points (0.21%) to end at 7,288.74 while the S&P SL 20 index dipped by 1.49 points (0.04%) to end at 4,067.14.

Turnover was 905 million down from 1.7 billion rupees, Thursday.

Lanka Securities said the benchmark index saw active trading in the industrial stock with two counters recording 52 week highs,”

“The indices were mainly positive because of positive earnings report and dividend announcement.”

The main contributors to the day’s trading was Carson Cumberbatch closing at 415.00 rupees, up 13.50 rupees and Nestle Lanka closing at 2,249.90 rupees, up 50.10 rupeess.

Hayleys which announced a quarterly profit of 52 percent, Thursday closed at 348.00 rupees, up 13.90 rupees.

Industrial sector firms hit yearly highs with Alumex closing at 18.30 rupees, up 0.90 rupees and Alufab closed at 45.30 rupees, up6.60 rupees.