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Sri Lankan stocks close lower, foreigners buy bank stocks

ECONOMYNEXT – Sri Lankan shares ended lower Tuesday with foreign investors net buying, taking stakes in the finance and banking sector stocks, broker said. 

The benchmark All Share Price Index fell 15.36 points (.24%) to close at 6,390.55 while the more liquid SP SL20 index closed at 3,716.50, down 4.34 points (0.12%). Turnover was Rs  918 million.

“High foreign participation led to a net foreign inflow to the market,” First Capital Equities said in a report.

Asia Securities said crossings or off-the-floor negotiated deals accounted for 48% of turnover with three crossings in John Keells Holdings, and one crossing each in Tokyo Cement, Hemas Holdings, Nestle’s local unit, Lion Brewery and Commercial Credit and Finance.

Foreign investors were net buyers of Rs90 million worth of shares, mainly in Commercial Credit and Finance, Sampath Bank and Hatton National Bank. Estimated net foreign selling was mainly in Tokyo Cement.

Commercial Credit cloed unchanged at Rs43.
(COLOMBO, December 5, 2017)

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