Indices close in red

Daily Mirror reports that the Colombo Stock Exchange continued its recovery on 29 October, marking a third consecutive session of gains. EconomyNext reports that the ASPI finished 296.93 points higher, up 1.49% at 20,267.15, while the S&P SL20 rose 71.63 points, or 1.26%, to 5,764.20.

EconomyNext reports that Distilleries Company of Sri Lanka, Sunshine Holdings, Hatton National Bank, Sampath Bank and Dialog Axiata were among the leading positive contributors at the close. It reports that Vidullanka, East West Properties, Janashakthi, Union Assurance and LOLC Holdings were among the leading negative contributors.

EconomyNext reports turnover of Rs. 2.27 billion, with the S&P/CSE Banks Industry Group accounting for Rs. 658.6 million. The outlet says market research head Raynal Wickremeratne noted improved turnover and several crossings, including transactions in Hatton National Bank, Commercial Bank, Softlogic Life, Lanka Reality Investments, Tokyo Cement, PickMe and LB Finance.

EconomyNext reports that DCSL Breweries Lanka transferred its brewing, packaging and distribution operations to parent Distilleries Company of Sri Lanka from 28 October. The company said in a market filing that it had received Excise Department approval for the relevant licence transfers and that the change was not expected to materially affect group profits. EconomyNext reports that DCSL would handle licensed brands including Heineken, Tiger and Anchor, alongside the group’s own beer brands.

The gains followed earlier advances: EconomyNext reports the ASPI rose 1.41% to 19,970.22 on Wednesday, 28 October, and Daily Mirror describes that session as the second consecutive day of recovery. Daily Mirror reports that the exchange had ended a six-session losing streak on 27 October.