Colombo stocks pop, led higher by John Keells Holdings (JKH)

July 17, 2018 (LBO) – The Colombo Stock Exchange finished markedly higher in one of the strongest days in weeks.

The ASPI finished up .8% and the S&P SL 20 finished up 1.27% on the session.

Turnover was still light at Rs454mn (US$2.8mn), while foreign selling more or less equaled foreign buying at just over US$1mn.

The market was led higher by index heavyweight John Keells Holdings (JKH) which finished up 3% on the session to close at Rs149.  Trading in JKH accounted for 20% of total market turnover.

JKH has bounced 8% from a recent low of Rs138 and now trades above its net asset value.

Stocks have had a tough 2018, with the ASPI down 3% and the S&P SL 20 down 8% year to date.