Sri Lanka stocks up, foreign selling continues in JKH

ECONOMYNEXT – Foreign selling continued in Sri Lanka’s John Keells Holdings Monday with foreign buying in HNB Assurance with the stock market indices closing mixed in thin trade, brokers said.

The All Share Price Index ended at 6,067.63, up 5.08 points or 0.08 percent while the more liquid S&P SL20 index closed at 3,141.91, down 7.52 points (0.24 percent). Turnover was a low 134 million rupees with no crossings or negotiated block deals.

“Despite the two months long political deadlock coming to an end, the market struggled to find a direction today as participants preferred remaining on the sideline,” Bartleet Religare securities said in a note.

JKH, which saw the highest foreign selling, topped the turnover list accounting for almost half of it. JKH closed at 160.90 rupees, up 40 cents (0.25 percent).

SMB Leasing was the most sought after in terms of volume accounting for 61 percent of the total.

HNB Assurance, which drew the most foreign buying closed at 125.10 rupees, down 40 cents (0.3 percent).

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