Sri Lankan stocks up, foreigners sell Commercial Bank

ECONOMYNEXT – Sri Lankan stocks closed higher Thursday with negotiated block deals accounting for over half the total turnover mainly because of foreign selling in Commercial Bank, brokers said.

The All Share Price Index closed at 6,060.20, up 24.93 points or 0.41 percent while the more liquid S&P SL20 index ended at 3,154.42, up 3.42 points or 0.11 percent.

Crossings or negotiated block deals accounted for 52 percent of the total turnover of 675 million rupees, brokers Asia Securities said.

Foreign investors were net sellers of 351.2 million worth of shares, with estimated net foreign buying highest in HNB Assurance.

Estimated net foreign selling was highest in Commercial Bank which led the volume and turnover, said Bartleet Religare Securities.

There were 10 block deals in Commercial Bank.

AIA Insurance Lanka hit a new record high of 1,641.8 rupees and was the third highest gainer of the day and second most actively traded stock, up 178.90 rupees or 12.23 percent.

(COLOMBO, 13 December 2018)
 

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