Bourse up; Block deals in Keells, Nations Trust Bank

Reuters: Shares recovered on Thursday from an 11-week low hit in the previous session, with block deals in John Keells Holdings Plc and Nations Trust Bank boosting the day’s turnover.

The main stock index ended up 0.42% at 7,080.48, edging up from its lowest close since 15 July hit on Wednesday.

Foreign investors were net buyers of Rs. 284.2 million ($ 2.02 million) worth of shares on Thursday, but they have been net sellers of Rs. 2.88 billion worth of shares so far this year.

“With the start of a new month we have seen improved buying levels. We have also seen some retailers coming in slowly,” said First Capital Equities Ltd. Research Manager Dimantha Mathew.

“We expect the positive sentiment to continue.”

Shares of Dialog Axiata Plc rose 1.83% while Commercial Leasing and Finance rose 5.00%.

Blue-chip shares such as John Keells rose 0.18 percent while Commercial Bank of Ceylon gained 0.5%.

Nations Trust Bank, which along with Keells accounted for 43.79% of the day’s turnover, gained 0.82%.

Turnover was Rs. 1.8 billion, more than this year’s daily average of Rs. 1.12 billion.