Saturday February 24, 2018

Sri Lankan shares recover after nine days of losses

Aug 10, 2017 22:04 PM GMT+0530 | 1 Comment(s)

ECONOMYNEXT - Sri Lankan shares ended higher in thin trade on Thursday after nine straight days of losses, with moderate net buying by foreign investors who bought into a cement company, brokers said.

The All Share Price Index ended at 6516.32, up 10.29  points or 0.16 percent, while the more liquid SP SL20 index ended at 3737.94, up 3.73 points (0.10 percent), with turnover a low 307 million rupees.

“Both turnover and volume declined, while a moderate foreign participation led to a marginal net foreign inflow into the market,” brokers First Capital Equities said.

Gains in Ceylon Tobacco Company, which has a heavy weighting on the index, helped counter losses in other big caps like John Keells Holdings, they said.

Brokers Asia Securities said foreign investors were net buyers of 98.5 million rupees worth of shares, most of it in Tokyo Cement, while there was foreign selling in Chevron Lubricants. (COLOMBO, August 10, 2017)