Sri Lanka stocks up, foreign buying in JHK, Com Bank

ECONOMYNEXT – Sri Lankan stocks closed higher on Monday with foreign investors being net buyers, taking stakes especially in conglomerate John Keells Holdings and Commercial Bank, one of the biggest local banks.

The All Share Price Index rose 7.62 points (0.12%) to close at 6,409.65  while the more liquid SP SL20 index closed at 3,683.69, up 1.35 points (0.04%). Turnover was 459 million rupees.

Estimated largest foreign inflows were into JKH, Commercial Bank, Lanka Milk Foods and Ceylon Tobacco Company, according to First Capital  Equities.

Brokers Asia Securities said crossings or off-the-floor negotiated deals accounted for 25 percent of the turnover, with two crossings each in Hemas Holdings and JKH.

Foreign investors were net buyers of 97.7 million rupees worth of shares. Estimated net foreign selling topped in National Development Bank.
(COLOMBO, Sept 18, 2017)

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