Sri Lankan stocks recover from three-week low

EconomyNext – Sri Lankan stock prices recovered Thursday after sinking to a three-week low with interest seen in banks, brokers said.

The All Share Price Index was barely changed at 7,329.59, up 5.19 points (0.07 percent) while the S&P SL20 index, which tracks the top 20 largest and most liquid stocks, edged up 4.17 points to 4,107.82.

Turnover was 1.2 billion rupees supported by a few crossings or negotiated off-market deals in two banks and a distiller.

Stock prices fell steeply at the opening but recovered towards the end, Bartleet Religare Securities said.

There was trading by both retailers as well as institutional and high net worth investors.

"Interest was seen on the banking sector such as Commercial Bank, NDB, DFCC and NTB," it said in a report. John Keells Holdings and Indian Oil Corp. also drew interest.

Foreign investors were net buyers, generating a net foreign inflow of 86.6 million rupees.


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