Sri Lankan shares extend gains, foreign investors remain net sellers

COLOMBO (EconomyNext) – Sri Lankan shares closed higher for the fourth straight session Tuesday with the benchmark index vaulting over the 7,200 point mark and foreign investors remaining net sellers, brokers said.

The All Share Price Index gained 23.11 points (0.32%) to close at 7,202.11 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, rose 10.71 points (+0.26%) to close at 4,064.16.

Lanka Securities said turnover crossed the one billion-rupee mark after nearly three weeks to hit 1.1 billion rupees with several crossings or off-the floor negotiated deals the biggest of which was 300,000 shares of John Keells Holdings at 206.90 per share.

Other deals were in Nestle Lanka (100,000 shares at 2,299.00 per share), Hayleys (100,000 shares at 325.00 per share) and National Development Bank (100,000 shares at 270.00 per share).
The gains were mainly led by the price appreciations in Distilleries, which closed at 260.00, up 3.8%, Ceylon Tobacco, which closed at 1,010.00, up 0.70% and CT Holdings, which ended at 135.00, up 5.1%.

Lanka Securities Ceylon Guardian Investment rose 2.4% to 191.92 rupees after its dividend announcement. 

Foreign investors were net sellers with a net outflow of 28 million rupees for the second straight session with outflows seen in Laugfs Gas, National Development Bank and Citizen Development Bank non-voting while net foreign inflow was mainly seen in John Keells Holdings.

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