Sri Lanka stocks end up 0.21-pct, foreign buying in JKH, East West Properties

ECONOMYNEXT – Sri Lanka stocks closed 0.21 percent higher on Wednesday on buying interest in LOLC Holdings and food stocks Colombo Cold Stores and Nestles amidst dull investor activity, brokers said.

Colombo’s benchmark All Share closed 11.52 points higher, up 0.21 percent to 5,603.35, and the S&P SL20 of more liquid stocks fell 6.48 points, down 0.24 percent to 2,715.66.

Market turnover was 188.8 million rupees, with 48 stocks gaining during the day compared to 46 that declined.

LOLC Holdings (up 5.70 rupees to 95.70 rupees), Ceylon Cold Stores (up 25 rupees to 600 rupees) and Nestle Lanka (up 16.40 rupees to 1,636.70 rupees) contributed to the benchmark index gain.

Net foreign buying was 46.4 million rupees, up from 31.4 million rupees the previous day.

Net foreign buying in John Keells Holdings was 36.7 million rupees, and 31.5 million rupees in East West Properties, according to Asia Securities.

John Keels Holdings ended 50 cents lower at 152.50 rupees and East West Properties gained 1.60 rupees to 19.30 rupees.

There was an off-market trade, or crossing, each in John Keells Holdings for 36.8 million rupees and East West Properties for 28.6 million rupees. (COLOMBO, 17 April 2019)