Home / Financial Services/ CSE closes at 3-week high; Keells leads

CSE closes at 3-week high; Keells leads


Comments / {{hitsCtrl.values.hits}} Views / Friday, 20 July 2018 00:00

Facebook

Reuters: Sri Lankan shares rose yesterday and marked their highest close in nearly three weeks, led by market heavyweight John Keells Holdings, as foreign buying boosted sentiment.

The Colombo stock index ended 0.36% firmer at 6,183.02, its highest close since 29 June. “We saw some renewed interest coming into the market with both local and foreign investors returning,” said First Capital Holdings Head of Research Dimantha Mathew. “Falling commodity prices are also helping.” Turnover stood at Rs. 634.7 million ($ 3.97 million), less than this year’s daily average of Rs. 887.7 million. 

Foreign investors bought net equities worth Rs. 73.7 million yesterday, but they have been net sellers of stocks worth Rs. 2.6 billion in the year so far.

A downward revision in economic growth estimate by the Central Bank has also hurt sentiment, analysts said.

Economic growth in 2018 is likely to be between 4% and 4.5%, falling short of an earlier estimate of 5%, Central Bank Governor Indrajit Coomaraswamy said earlier this month.

Shares in conglomerate John Keells Holdings PLC rose 1.5% while biggest listed lender Commercial Bank of Ceylon PLC gained 2.1% and Nestle Lanka PLC ended 2.1% higher.

 


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

“Sri Lanka’s future lies in producing exportable manufactured goods”: Dr. Howard Nicholas

Monday, 22 July 2019

Drawing lessons from Vietnam’s experiences The Sri Lanka-born economist attached to The Hague based Institute of Social Studies – Dr. Howard Nicholas – addressing a packed audience consisting of the alumni of the Postgraduate Institute of Manag


We should sell our water

Monday, 22 July 2019

When you read the title of this article, you will probably feel disgusted with me as selling our water has been a controversial topic since a long time ago. By the way, I am talking about virtual water trade and you would be surprised to know that we


A voice of compassion amid howls of zealotry

Monday, 22 July 2019

The unrestrained freedom extended by the current regime to a bunch of saffron-clad street vendors of Sinhala Buddhist zealotry is pushing Sri Lanka once again into a cauldron of ethnic and religious convulsion. The nationwide spread and virulence of


Roger Beteille: The man who reinvented the commercial airliner

Monday, 22 July 2019

The visionary engineer, pilot and manager who led Airbus to some its most significant decisions, passed away last month. Beteille, who was the head of French aircraft manufacturer Sud Aviation’s flight testing section, was made technical director


Columnists More