Sri Lankan shares recover after four-day fall

COLOMBO (EconomyNext) – Sri Lankan shares ended a four-day losing streak to close higher Friday with foreign investors on the selling side, brokers said.

The All Share Price Index gained 9.76 points (0.14 percent) to close at 7061.28 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, rose 7.99 points (0.20 percent) to close at 3914.01.

Turnover was 1,595 million rupees of which net foreign selling accounted for 865 million rupees with 12 crossings or off-the floor negotiated deals seen during the day, brokers said.

Seven crossings were in John Keells Holdings accounting for 2.9 million shares at 190 and 191 rupees, brokers First Capital Equities said.

“Heavy foreign interest was noted predominantly on the selling side while improved local buying interest was observed during the day,” they said.

SC Securities said the benchmark index was lifted by gains in John Keells Holdings, Hayleys, Aitken Spence Hotel Holdings, Overseas Realty and Access Engineering.

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