Sri Lankan stocks down, foreign inflow for the week

ECONOMYNEXT – Sri Lankan stocks ended weaker Friday in thin trade with continued foreign selling in John Keells Holdings, although there was a net foreign inflow of funds for the week, brokers said.

The All Share Price Index closed at 6,015.23, down 2.96 points (0.05 percent) while the more liquid SP SL20 index closed at 3,115.42, down 1.48 points (0.05 percent).

Crossings or negotiated block deals accounted for 24 percent of the day’s turnover of 389 million rupees with one crossing each in JKH and Melstacorp, Asia Securities said.

Estimated net foreign buying topped in Softlogic Holdings while net foreign selling was mainly in in JKH.

Bartleet Religare Stockbrokers said there was a net foreign inflow of 264 million rupees for the week, breaking the trend of net foreign sales.

Negotiated deals contributed 60 percent of the week’s turnover with foreign activity skewed towards the buying side, they said.

JKH and Hemas Holdings saw the highest foreign outflows for the week while Melstacorp attracted the highest foreign inflows.
(Colombo/December 28/2018)

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