Stock market endorses DDO | Daily News

Stock market endorses DDO

Records Rs. 7.4 bn turnover:
Highest since February 2022:

The Colombo Stock Market endorsed the manner in which the Domestic Debt Optimisation (DDO) process was handled by the government without it having a negative impact for the local banking and other sectors yesterday by posting the highest index points since September 16 last year. Stamping a mark of confidence, the market generated a turnover of Rs.7.4 billion which is the highest turnover since February 1, 2022.

The All Share Price Index rose by 6.71% and closed above the key resistance level of 10,000 yesterday to end the trading session at 10,076.64. The S&P Sri Lanka 20 Index also rose by 9.56% reflecting strong interest in blue chip counters.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank and Nations Trust Bank ) whilst the sector index gained 15.42%. The share price of Commercial Bank increased by Rs.12.80 (18.80%) to close at Rs.80.90. The share price of Nations Trust Bank appreciated by Rs.10.30 (14.57%) to close at Rs. 81.00.

Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 4.75%. (Please see more on page 13)

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