Sri Lanka stock market gains strength

COLOMBO: Sri Lanka stocks closed up 3.13 percent on Thursday, reaching an all-time high, of 8,131.25 points as Hayleys group units soared after share splits were announced topping a previous high of 7,922.66 points reached on January 16, 2021.

Colombo’s All share price index gained 3.13 percent or 246.80 points to close at 8,131.25, Economy Next reported.

The S&P SL20 index of most liquid stocks topped 3000 points, to close at 3,196.73 points exceeding the previous high on Jan. 16.

Hayleys contributed to the ASPI gain, closing 202.50 rupees or 35.06 percent up at 780.00 rupees, with key subsidiaries Dipped Products rising 135.00 rupees to close at 576.00 rupees and Haycarb gained 49.85 percent or 384.00 rupees to close at 1,154.25 rupees, Economy Next reported.

Over a dozen Hayleys unit announced share splits on Thursday. Share splits do not increase the net asset value of a company, but lower prices and higher number of shares may make the shares more liquid.