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Sri Lankan stocks close up, foreign selling in Melstacorp, HNB

ECONOMYNEXT – Sri Lankan stocks closed higher Friday with foreign investors turning net sellers after net buying during the week, brokers said.

The All Share Price Index rose 3.85 points (0.06%) to close at 6,575.39 while the more liquid SP SL20 index closed at 3,728.31, up 5.76 points (0.15%). Turnover was Rs 814 million.

There were four crossings in Hatton National Bank where foreign selling was seen. HNB closed flat at Rs242.

Asia Securities said foreign investors were net sellers of Rs16.9 million worth of shares, with estimated net foreign buying highest in Dialog Axiata and net foreign selling mainly in Melstacorp.

Bartleet Religare Securities said foreign participation remained on the buying side during the first four days of the week with a net foreign inflow of Rs855 million, despite the post-election political uncertainty.

Heavy foreign participation was evident on stocks like Commercial Bank, NHB, Softlogic Holdings and Lion Brewery during the week.
(COLOMBO, February 23, 2018)

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