Sri Lanka stocks recover, foreign buying in CTC

ECONOMYNEXT – Sri Lankan shares recovered Thursday helped by gains in Ceylon Tobacco Company, a cigarette monopoly, on buying by foreign investors who remained net buyers for the day, brokers said.

The benchmark All Share Price Index ended at 6,381.46, up 8.76 points (0.14%) while the S&P SL20 rose by 8.65 points or 0.24% to close at 3,663.81. Turnover was a low Rs347 million.

SC Securities said foreigners were net buyers for the day, with a net foreign inflow of Rs 70 million.

Most of the foreign buying was in CTC, which recorded the highest turnover for the day. CTC closed at Rs1,000, up 4.17%.

Mobile operator Dialog Axiate, which entered the financial services sector by buying a controlling stake in Colombo Trust Finance PLC, a finance company, for just over a billion rupees, closed at Rs11.50, up 1.77%.
(COLOMBO, Sept 14 2017)

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