Sri Lanka stocks close up 1.4-pct; JKH rings the opening bell

Apr 01, 2015 (LBO) – Sri Lanka’s stocks closed higher for the second consecutive day with telco and tobacco stocks gaining amid net foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 95.74 points higher at 6,916.08, up 1.40 percent. The S&P SL20 closed 48.24 points higher at 3,900.67, up 1.25 percent.

Turnover was 616.53 million rupees, down from 666.34 million rupees a day earlier with 143 stocks closed positive against 33 negative.

Foreign investors bought 226.54 million rupees worth shares while selling 153.98 million rupees worth shares.

Ceylon Tobacco Company closed 25.50 rupees higher at 1,025.00 rupees, contributing most to the index gain.

The company also had an off-market transaction of 99.30 million rupees changing hands at 1,020.00 rupees per share.

Dialog Axiata closed 50 cents higher at 10.90 rupees and Sri Lanka Telecom closed 2.00 rupees higher at 47.50 rupees.

Commercial Bank closed 3.24 rupees higher at 167.00 rupees.

John Keells Holdings which ceremonially opened the trading of CSE on Wednesday; closed 2.00 rupees higher at 201.40 rupees.

The CSE has planned to feature companies from the S&P SL20 index in a series of market opening ceremonies.

“As the company with the highest market capitalization and one of the largest listed conglomerates John Keells Holdings initiated this tradition.” the CSE said in a statement.

Chairman of John Keells Holdings Susantha Ratnayake, Deputy Chairman Ajit Gunewardene, Group Finance Director Ronnie Peiris and President and member of the Group Executive Committee Krishan Balendra took part in the market opening ceremony.

“We have always appreciated the close relationship that JKH has shared with the CSE and also for their unwavering support towards our Foreign Investor Forums. We look forward to this same support in the coming years.” Chairman of the CSE Vajira Kulatilaka said.