The Colombo Stock Exchange closed higher for a third consecutive session on Friday, with broad-based buying lifting both benchmark indices.

The All Share Price Index gained 100.42 points, or 0.47 percent, to end at 21,370.09. The more liquid S&P Sri Lanka 20 Index rose 16.66 points, or 0.28 percent, to 5,988.16. Both figures were reported identically by the Daily Mirror and EconomyNext.

Over the week as a whole, the ASPI added 240.88 points, EconomyNext said, in a period marked by interest from high-net-worth investors.

Turnover normalises

Trading activity moderated sharply from the previous session’s unusually heavy volumes. Total turnover was Rs. 1.89 billion on roughly 122.29 million shares.

The banking sector dominated, generating Rs. 597.45 million from 68.84 million shares. Cargills Bank accounted for most of that — Rs. 476.45 million from about 67.96 million shares, the largest single-counter turnover of the day — even as the stock fell 6.67 percent to close at Rs. 7.00.

Crossings were comparatively light at about Rs. 81.87 million, around 4 percent of equity turnover, with the largest in Ceylon Cold Stores at Rs. 38.14 million. Foreign investors were marginal net sellers, recording an outflow of Rs. 15.83 million.

Breadth strongly positive

Market breadth favoured gainers by 141 to 62, a spread the Daily Mirror said reflected participation across a broader range of counters.

Central Finance was the strongest positive contributor to the index, rising 1.78 percent to Rs. 229.00, followed by John Keells Holdings, RIL Property, Colombo Dockyard and Richard Pieris. Hemas Holdings was the heaviest drag, falling 2.19 percent to Rs. 31.20, with Ceylon Grain Elevators, Cargills Bank, Haycarb and Citizens Development Business Finance also weighing on the market.

Separately, EconomyNext reported that Group Lease Holdings, a Singaporean company in liquidation, disposed of its entire 29.99 percent stake in Commercial Credit and Finance — 95,390,500 shares — at between Rs. 100.50 and Rs. 113.00 apiece, according to a market filing. Commercial Credit and Finance closed at Rs. 109.25, up 1.63 percent.

Sources: Daily Mirror, EconomyNext.