Sri Lanka stocks end firmer, foreigners buy

ECONOMYNEXT – Sri Lankan shares closed slightly firmer Monday with the benchmark index propped up by gains in banking, hotel and telecom firms and foreign investors net buyers, brokers said.

The All Share Price Index rose 8.95 points or 0.13 percent to close at 7,162.44 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, gained 5.33 points (0.14 percent) to close at 3,919.60.

Turnover was a low 697 million rupees a quarter of which came from crossings or off-the-floor negotiated deals, Lanka Securities said.

John Keells Holdings topped the turnover list supported by a single crossing of 800,000 shares at 74.00 a share. There was another crossing of 1.8 million shares of Textured Jersey at 31.80 per share.

“Foreign investors turned to be net buyers with a net inflow of 290 million rupees after two consecutive days of net selling,” Lanka Securities said in a report.

“Foreign participation was 33 percent. Net foreign inflows were seen in John Keells Holdings, Commercial Bank and Textured Jersey while net foreign outflow was mainly seen in Access Engineering.”

Gains in Commercial Bank which closed at 168.00, up 1.1 percent, Trans Asia, up 5.6 percent to 90.00 and Dialog Axiata which closed at 11.30, up 0.9 percent helped push the main index up.  (Colombo/September 14 2015)

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