Sri Lanka All Share Price Index recovers strongly

COLOMBO: Sri Lanka All Share Price Index recovered strongly from its lowest close in 3-1/2 month helped by bargain hunting in select shares but concerns remained as fuel shortage and economic crisis have hot eased, brokers said.

The main All Share Price Index (ASPI) jumped 4.23 percent or 450.85 points to 11,107.90, recovering from its lowest close since Nov. 10.

On Thursday, it plunged 5 percent or 560.71 points, its worst percentage loss since March 20, 2020, the bourse data showed.

S&P SL20 of the most liquid stocks also jumped 4.66 percent or 166.98 points to 3,751.56 points.

“It was bargain hunting, though we saw some strong selling early in the trading,” a Colombo based Market analysts told EconomyNext.

“Nothing has changed from yesterday. The outlook for oil prices is worsening while Sri Lanka’s power cuts and fuel shortage are are intensifying.”