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Sri Lanka stocks recover amid foreign buying

ECONOMYNEXT – Sri Lankan stocks recovered Thursday with high interest seen among foreign investors who bought into mainly banks and a conglomerate, brokers said.

The All Share Price Index rose 29.61 points or 0.42 percent to close at 7,080.48 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, rose 10.18 points (0.27 percent) to close at 3,836.33.

Daily market turnover was 1.8 billion rupees, with 18 crossings or off-the-floor negotiated deals in John Keells Holdings, Commercial Bank, Nations Trust Bank, Ceylino Insurance and Kelani Tyres.

Brokers Lanka Securities said foreign investors were on buying side with a net foreign inflow of 284 million rupees and foreign participation at 68 percent, the highest in 17 months.

Net foreign inflows were seen in Nations Trust Bank, Commercial Bank and Hemas Holdings while net foreign outflow was mainly seen in John Keells Holdings.  (Colombo/October 01 2015)

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