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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lankan stocks at 6-wk high on foreign buying

Sri Lankan stocks at 6-wk high on foreign buying

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sriranga

sriranga
Co-Admin
Dec 26 (Reuters) - Sri Lanka's stock market advanced on Wednesday, led by foreign buying in market heavyweight John Keells Holdings, but the day's turnover was thin, with most investors on holiday.

The Colombo Stock Exchange's main index rose 0.83 percent or 46.02 points to close at 5,570.91, its highest since Nov. 14.

Foreign buying accounted for 69.3 percent of turnover and offshore investors bought a net 119.1 million rupees worth of shares, extending net foreign buying this year to 37.9 billion rupees.

John Keells Holdings, bought by foreign investors, gained 0.46 percent to 218 rupees.

"Foreign buying helped the market to end higher and we expect to see positive sentiment when the new year starts as interest rates have fallen sharply," a stockbroker said on condition of anonymity.

Treasury bill yields eased by between 21 and 49 basis points at a weekly auction on Monday in line with a surprise cut in interest rates earlier this month.

The day's turnover stood at 242.4 million rupees ($1.91 million), compared to this year's daily average of 885.8 million rupees.

Stock and money markets were closed on Tuesday and Thursday for Christmas and a Buddhist religious holiday.

The rupee closed steady at 127.00/10 to the dollar, in dull trade, currency dealers said.

($1 = 126.9500 Sri Lanka rupees) (Reporting by Shihar Aneez; Editing by Ron Popeski)
http://www.reuters.com/article/2012/12/26/markets-srilanka-idUSL4N0A01Q920121226

http://sharemarket-srilanka.blogspot.co.uk/

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Thanks Sri

sriranga

sriranga
Co-Admin
The Colombo Stock Exchange closed 0.83 percent higher with all indices closing in positive territory on Wednesday (26).

The All Share Price Index gained 46.02 points (0.83 percent) to close at 5,570.91.

The Milanka Price Index of more liquid stocks closed 21.01 points higher, up 0.42 percent to 5,060.83 while the S&P SL20 gained 0.71 percent, closing at 3,060.37, 21.59 points higher.

Turnover reached a little more than Rs. 242.4 million on 8.3 million shares changing hands during the day.

Foreign purchases amounted to Rs. 167.8 million, leading to a net inflow of Rs. 119.1 million.

CLPL.W0014 was the biggest gainer, moving up 60 cents (12 percent) to close at Rs. 5.60 followed by AUTO, which gained Rs. 81 (11.11 percent) to close at Rs. 810.

SEMB was the biggest loser, down 10 cents (20 percent) to 50 cents followed by ASCO, down Rs. 17.40 (9.41 percent) to Rs. 184.90.

In a stock exchange filing, Odel PLC said it raised a little more than Rs. 2.5 billion (Rs. 2,543,588,620) via a rights issue which were listed on the bourse. The 1:1 issue was for a consideration of Rs. 20 with 127,179,431 shares allotted and listed.

Meanwhile, Lanka Hospitals Corporation PLC said Gnanadurai Ramesh Krishnan, Vice President Integration and Growth, Fortis Healthcare International, has been appointed alternate director to Sunil Godhwani with effect from December 24.

"The market opened the day on a positive note following the Christmas holidays with the ASPI closing 0.8% higher to end the session at 5571. Market turnover meanwhile improved to LKR242 mn with trading in John Keells Holdings accounting for 62% of the total. Gainers outpaced losers with Lanka Aluminium, Ceylon Leather(W0014) and SMB Leasing rising by 12.1%, 12.0% and 11.1% offsetting losses in Property development, Hikkaduwa Beach Resort and Asia Capital which declined by 7.6%, 7.5% and 7.4% respectively," DNH Financial said.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=69064

http://sharemarket-srilanka.blogspot.co.uk/

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