Colombo shares up on low turnover

Business

Colombo stocks recorded gains on Friday closing a shortened 4-day week on low turnover.

On a Rs. 4.6 billion turnover, the ASPI was up 10.44 per cent to close at 13, 371.61 with the S&P increasing 7.49 per cent to close at 4,612.29.

The CSE will be switching to a free float adjusted market cap based index on Monday. Analysts said that this revision will not directly affect market capitalisations of individual companies, but impact of illiquid shares in the index will be greatly reduced.