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Sri Lanka stocks recover after three-day fall

ECONOMYNEXT – Sri Lankan shares recovered Wednesday after a three-day downturn in which the bourse lost two  percent, with foreign buying seen in two banks and a conglomerate, brokers said.

The All Share Price Index rose 58.8 points or 0.8 percent to close at 7,183.3 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, gained 22.9 points (0.6 percent) to end at 3,937.08.

Turnover was 647 million rupees with several crossings or off-the-floor negotiated deals in Hemas Holdings, Nations Trust Bank and Vidullanka.

Asia Securities said the benchmark index was lifted by gains in Dialog Axiata, Ceylon Tobacco Company, Lion Brewery, and Commercial Bank.

Foreign investors were on the buying side with a net inflow of 263 million rupees, brokers Lanka Securities said.

Net foreign inflows were seen in Hemas Holdings, Nation Trust Bank and Seylan Bank non-voting while net foreign outflow was mainly seen in Hatton National Bank.  (Colombo/September 9 2015)

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