Bourse up to 1-week high despite foreign outflows

Wednesday, 18 December 2013 00:00 -     - {{hitsCtrl.values.hits}}

Reuters: Sri Lankan stocks gained for the fourth straight session on Tuesday to a more than one-week high, led by large-cap shares such as Ceylon Tobacco Co Plc, despite heavy foreign outflow. The main stock index rose 0.28 percent, or 16.22 points, to close at 5,811.88, its highest close since Dec. 9. Shares in Ceylon Tobacco gained 1.17 percent to 1,150 rupees, while market heavyweight John Keells Holdings  and top lender Commercial Bank of Ceylon rose 0.79 percent and 1.62 percent, respectively. Foreign investors sold a net 617.7 million rupees worth of shares on Tuesday, the highest foreign outflow since Nov. 8. But offshore investors were net buyers of 22.49 billion rupees worth of shares so far this year. The gains added 6.75 billion rupees ($51.60 million) in market value, while turnover hit 1.27 billion rupees. The day’s turnover was higher than this year’s daily average of 837.8 million rupees.