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Sri Lankan shares end up, foreigners buy into Com Bank

ECONOMYNEXT – Sri Lankan shares ended higher Wednesday, buoyed by continued buying by foreign investors, much of it in Commercial Bank, which boosted turnover, brokers said.

The All Share Price Index rose 12.87 points (0.20%) to end at 6,507.09 while the more liquid SP SL20 index closed at 3,781.64, up 28.77 points (0.77%). Turnover was Rs 2,444 million.

Asia Securities said crossings, or off-the-floor negotiated deals, accounted for 74% of turnover with three crossings each in Commercial Bank.

The stock closed at Rs145.90, up 3.99%, and accounted for most of the foreign buying.

Estimated net foreign selling was highest in Nestle Lanka.

SC Securities said the benchmark index was pushed up by gains in Commercial Bank, LOLC, Lion Brewery, Trans Asia Hotels and Asiri Hospital Holdings.

Foreigners were net buyers for the day, with a net foreign inflow of Rs1,913 million.
(COLOMBO, October 4, 2017)

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