Sri Lankan stocks up, foreigners buy LOLC

ECONOMYNEXT – Sri Lanka’s benchmark stock market index rose Thursday in thin trade dominated by crossings, or off-the-floor negotiated deals, particularly in Lanka Orix Leasing Company (LOLC) in which foreign buying was seen.

The All Share Price Index rose 1.15 points (0.02%) to close at 6,362.18 while the more liquid SP SL20 index closed at 3,670.78, down 5.45 points (0.15%). Turnover was Rs627 million.

Asia Securities said crossings accounted for 57% of turnover with three crossings in LOLC and one in Dialog Axiata.

LOLC closed at Rs128.60, up Rs8.10 or 6.2%. The stock is up 77% this year.

Foreign investors were net buyers of Rs332.1 million worth of shares, with estimated net foreign buying topping in LOLC, the brokers said.
(COLOMBO, Sept 7, 2017)

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