Colombo bourse welcomed the economic policy direction set by the Premier Wickramasinghe and closed in the positive territory on Thursday. Prime minister’s speech which was delivered near to the session close managed to lift the index from the 7,000 mark to close the day at 7,017.39 with a gain of 13.82 index points or 0.20%. S&P SL20 index bagged 9.50 index points (+0.25%) to end at 3,794.11. Though the investor reactions to policy speech can only be seen in full in the next session, it is expected that the positive policy reforms introduced to address economic issues would be well-received by the investors.
Today’s gains were mainly driven by high caps such as John Keells Holdings (closed at LKR 181.60, +1.5%), Hemas Holdings (closed at LKR 88.90, +7.1%) and Nestle Lanka (closed at LKR 2,050.00, +0.9%).
Daily market turnover was LKR 780mn supported by several off-the-floor dealings which accounted for 30% of the total turnover. Panasian Power emerged as the top contributor to the turnover with LKR 120mn supported by a single crossing of 10mn shares at LKR 3.80 per share.