Sri Lankan stocks end up 1.4-pct

COLOMBO (EconomyNext) – Sri Lankan shares ended higher Wednesday for the second day, rising almost 100 points, with gains in companies that announced interim dividends, brokers said.

The All Share Price Index rose 95.74 points (1.40 percent) to close at 6,916.08 while the S&P SL 20 index, which tracks the top 20 largest and most liquid stocks, gained 48.24 points (1.25 percent) to close at 3,900.67.

Turnover was a low 617 million rupees with two crossings or off-the-floor negotiated deals, of 97,000 Ceylon Tobacco Company at 1,020 rupees each, and two million Dialog Axiata at 10.70 rupees each.

The benchmark index performance was lifted mainly by price gains in Ceylon Tobacco, Dialog Axiata and Sri Lanka Telecom.

John Keells Holdings shares which had fallen to a 52-week low recovered and its warrants
attracted heavy investor interest, Lanka Securities said.

Access Engineering was most actively traded stock and closed 7.3 percent higher at 20.60.

Foreign investors were net buyers with a net inflow of 73 million rupees, ending a selling spree of seven consecutive sessions, the brokers said.

Net foreign inflows were seen in Dialog Axiata, Nestle Lanka and John Keells Holdings warrant 0023 while net foreign outflow was mainly seen in Access Engineering.

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