Sri Lankan shares close up, foreign buying in Softlogic

ECONOMYNEXT – Sri Lankan stocks closed higher as investors regained confidence after the coalition government decided to put aside differences and continue with a cabinet reshuffle as part of post-election reforms, brokers said.

The All Share Price Index rose 12.21 points (0.19%) to close at 6,577.84 while the more liquid SP SL20 index closed at 3,714.75, up 15.03 points (0.41%).

Crossings, or off-the-floor negotiated deals, accounted for almost 20% of the turnover of Rs 863 million, Asia Securities said.

There was one crossing each in John Keells Holdings, Dialog Axiata and Amana Takaful Life.

Foreign investors were net buyers of Rs72.3 million worth of shares, mainly in Softlogic Holdings while net foreign selling was mainly Seylan Bank non-voting shares.

(COLOMBO, February 20, 2018)

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