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Sri Lankan stocks down, foreign buying in Com Bank

ECONOMYNEXT – Sri Lankan shares closed lower Thursday but turnover rose helped by foreign buying in Commercial Bank and block deals in an energy firm, brokers said.

The All Share Price Index fell 27.19 points (0.41%) to close at 6,571.54 while the more liquid SP SL20 index closed at 3,722.55, down 13.00 points (0.35%). Turnover was Rs1.5 billion.

Crossings or off-the floor negotiated deals accounted for 63.0% of turnover with five crossings in Commercial Bank and one crossing each Resus Energy and John Keells Holdings.

Commercial Bank closed up 0.7% at Rs140 while Resus Energy gained 0.5% to close at Rs22.20.

Foreign investors were net buyers of Rs660.5 million worth of shares, while their participation in terms of revenue increased to 34.5% from the previous day’s 26.1%. Asia Securities said.

Estimated net foreign buying was highest in Commercial Bank while net foreign selling was mainly in Hatton National Bank.
(COLOMBO, February 22, 2018)

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