Sri Lanka stocks close up 0.15-pct: Institutional buying

Oct 28, 2015 (LBO) – Sri Lankan stocks closed higher at 0.15 percent on Wednesday with gains in index heavy stocks and institutional buying and foreign investor activity, brokers said.

The Colombo benchmark All Share Price Index closed up 10.61 points at7,094.09 up 0.15 percent. S&P SL20 closed 14.06 points higher at 3,841.89 higher 0.37 percent.

“Institutional buying was seen on the anticipation of positive corporate earnings reports,” Lanka Securities said.

Turnover was 1.1 billion rupees, up from 481 million rupees with 76 stocks closing positive against 81 negative.

13 crossings accounted for 56 percent of the day’s turnover

The main index showed gains in John Keells Holdings closing at 179.80 rupees, up 2.70 rupees and Nestle Lanka closing at 2,024.30 rupees, up 22.80 rupees.

Commercial Bank closed at 159.00 rupees, down 0.70 rupees. Over 1.8 million shares traded with four off the floor trades of 466,000 shares at 160.00 rupees and 1.0 shares at 158.00 rupees.

Access Engineering closed at 23.60 rupees, up 0.70 rupees with a off the floor trade of 8.6 million shares at 23.00 rupees.

Foreign investors were net sellers after three consecutive days of inflows with a net foreign outflow of 226 million rupees. Foreign participation was 50 percent.