Sri Lanka stocks surge. All Share Price Index up by 160 points

January, 13, 2021

The main index of the Colombo Stock Exchange, the All Share Price Index (ASPI) today (13) marked its highest single-day gain for the year 2021. The ASPI surged 160.99 points (or 2.21%) to close at 7,443.23 and S&P SL20 Index of more liquid stocks gained 39.76 points (or 1.45%) to close at 2,782.17.

One of the highlights of the day was the strong growth in the share prices of LOLC Group and its subsidiaries. Here, stocks which contributed most to ASPI’s gain were, Commercial Leasing and Finance, LOLC Holdings, LOLC Finance and LOLC Development Finance PLC.

LOLC Holdings PLC issuing a statement yesterday (12) stated that the company is creating a platform to enable potential investors to acquire a minority stake in the finance companies it owns. Here, the company stated that for this purpose it has designated a fully owned subsidiary, 'LOLC Ceylon Holdings Limited' to operate as a platform.

Meanwhile, the market recorded a daily turnover of Rs.9.06 billion. Here, Expolanka Holdings (Rs.1.44 billion) and Browns Investments PLC (Rs.1.23 billion) made significant contributions to the turnover.