Sri Lanka stocks up after 7 days of losses; bargain hunting

Jan 12, 2016 (LBO) – Sri Lankan stocks were up 0.31 percent after seven consecutive days of losses with gains in John Keels Holdings and Telecom stocks, brokers said.

The Colombo benchmark All Share Price Index closed lower 20.02 points at 6,554.37 down 0.31 percent. S&P SL20 closed 12.53 points down at 3,405.57 down 0.37 percent.

Turnover was at 926 million rupees, with 114 stocks closing positive against 40 negative.

“We saw bargain hunters entering the market, today,” Lanka Securities said.

The main index was pushed up by gains in John Keells Holdings with the stock closing at 168.00 rupees, up 1.70 rupees with one off the floor trade of 800,000 shares at 168.00 rupees.

Sri Lanka Telecom closed at 44.40 rupees, up 0.80 rupees and Dialog Axaita closed at 10.20 rupees, up 0.20 rupees.

In banking Commercial Bank closed at 133.90 rupees, down 1.10 rupees with one off the floor trade of 670,000 shares at 134.00 rupees.