Sri Lanka stocks close up 0.2-pct: Gains in blue chips

Nov 17, 2015 (LBO) – Sri Lankan stocks closed up at 0.17 percent on Tuesday recovering from its four month low due to price increases in some index heavy stocks, brokers said.

The Colombo benchmark All Share Price Index closed up 11.97 points at 6,977.95 higher 0.17 percent. S&P SL20 closed 9.30 points higher at 3,768.71 up 0.25 percent.

Turnover was 1.47 billion rupees, up from 677 million rupees on Monday with 74 stocks closing positive against 72 negative.

“There was some bargain hunting and institutional activity,” Lanka Securities said.

The main index showed gains in losses in Hemas Holdings closing at 87.70 rupees, up 3.00 rupees and John Keells Holdings closed at 184.00 rupees, up 0.60 rupees.

Commercial Bank closed at 153.00 rupees, up 1.80 rupees.

Foreign participants were net sellers.

Foreign purchases amounted to 286.5 million rupees while foreign sales amounted to 376.2 million rupees.

“This resulted in a net foreign outflow of 89.8 million rupees being recorded at the end of the day’s trading.”

Market capitalization stood at 2,962.4 billion.

Meanwhile, according to an announcement, T.Senthilverl has increased his shareholding in Panasian Power to 10.2 percent of the issued shares. Counter closed with flat returns at  3.70 rupees.

Access Engineering announced that the company has invested 92 percent in Horizon Knowledge City Ltd (HKC) for consideration of 575 million rupees. HKC has been incorporated with objective of providing higher education and university infrastructure facilities.