ASPI ends higher at CSE

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) ended higher yesterday amid healthy turnover levels with advances exceeding declines by more than 2 to 1. Turnover stood at Rs.2.9 billion.

Meanwhile, Ceylon Guardian Investment Trust (CGIT) and Guardian Capital Partners Plc (GCP) have entered into a Share Sale and Purchase Agreement (SSPA) with Singapore-based Gazelle Asset Management Ltd. for the sale of 84% stake held by CGIT in GCP.

The stake amounts to 21.69 million shares and purchase consideration per share will be determined based on the net asset value of the company as at a date mutually agreed by the parties prior to the transaction plus a premium of Rs. 40 million.

This development led to GCP Plc’s share price increase by 38.5% or more than Rs. 10 per share.

Expo Lanka, Commercial Bank and HNB led market activity with crossings which were also seen in Industrial Asphalts Ceylon Plc, Ceylon Cold Stores and JKH.

According to John Keells Stock Brokers (JKSB), trading in Expo Lanka amounted to 14% of total turnover.

Banks were the most actively traded sector. Transportation was the best performing sector.

Health Care Equipment & Services was the worst performing sector.