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Sri Lankan stocks continue slide, foreigners buy

ECONOMYNEXT – Sri Lankan stocks ended weaker on Thursday, falling for the fifth straight day to a four-month low, but foreign investors remained net buyers, brokers said.

The benchmark All Share Price Index closed at 6,408.12, down 9.29 points or 0.14 percent, while the more liquid SP SL20 index fell 7.06 points or 0.19 percent to end at 3,690.81. Turnover was 335 million rupees.

Asia Securities said crossings, or off-the-floor negotiated deals, accounted for 14 percent of turnover with one crossing in John Keells Holdings.

“Foreign investors were net buyers of 13.6 rupees million worth of shares, while their participation in terms of revenue increased to 40.3 percent from 35.8 percent the previous day,” they said.

“Estimated net foreign buying topped in Richard Pieris. Estimated net foreign selling topped in Commercial Bank.”
(COLOMBO, August 17, 2017)

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