Shares close at 19-month high on Moody’s rating

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By 2017-07-17

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By Mario Andree

The Colombo Stock Exchange closed the week on a positive note as the benchmark All Share Price Index reached a new 19-month high on Friday (14), after an international rating agency predicted an average GDP growth of 5.2 per cent during 2017-2022.

Moody's Investor Services rating Sri Lanka at B1, said that it was supported by the economy's robust medium-term GDP growth prospects. Despite a expected real GDP growth of 4.6 per cent during this year, the agency predicts an average economic growth of 5.2 per cent during the next five years.

The All Share Price Index on Friday (14) gained 0.41 per cent......(27.72 points) to close at 6,766.14 points, its highest since 07 January 2016, , while the S&P SL20 representing the top 20 listed gained 0.26 per cent (9.96 points) to close at 3,909.54 points.
The day's turnover surpassed Rs 1.6 billion, higher than Thursday's (13) Rs 489 million and this year's average, with 91 winners ahead of 60 losers.

Nearly 50.7 million shares changed hands on Friday during 5,969 trades taken place.
The share price of Colombo Cold Stores gained 2.50 per cent (Rs 21.20) to close at Rs 21.20 as 11,183 shares changed hands during 31 trades, Asiri Hospital Holdings gained 4.96 per cent (Rs 1.20) to close at Rs 25.40 as 83,926 shares changed hands during 21 trades, while the share price of Access Engineering gained 5.14 per cent (Rs 1.30) to close at Rs 26.60 as 13.8 million shares changed hands during 222 trades.

However, the share price of Sri Lanka Telecom slipped 0.93 per cent (30 cents) to close at Rs 32 as 1,673 shares changed hands during 13 trades, Sampath Bank slipped 0.92 per cent (Rs 2.60) to close at Rs 281.40 as 6,912 shares changed hands during 32 trades, while the share price of Hatton National Bank slipped 0.42 per cent (Re 1) to close at Rs 238.50 as 96,832 shares changed hands during 39 trades.

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