Bourse remains on the up

Thursday, 3 October 2013 00:50 -     - {{hitsCtrl.values.hits}}

Reuters: Stocks rose on Wednesday to close at their highest since 27 September as investors bought conglomerate John Keells on the last day of its rights issue to fund a $ 850 million resort project, with foreign inflows boosting sentiment. The main share index rose 0.43%, or 24.79 points, to close at 5,805.62. On Tuesday, the index closed at its lowest since 18 September. Shares in John Keells Holdings Plc rose 1.83% to Rs. 223. The conglomerate accounted for about 60% of the day’s turnover of Rs. 1.31 billion ($ 10 million), which was above this year’s daily average of about Rs. 879 million. Local investors bought a net 738,597 Keells shares, data showed. On 28 August, Keells said it would raise about $ 300 million through rights and warrants to help fund the $ 850 million resort project. Top mobile phone operator Dialog Axiata Plc rose 2.35% to Rs. 8.70. Foreign investors were net buyers of Rs. 83.2 million ($ 632,800) worth of shares on Wednesday, extending net foreign inflows over the past 10 days to Rs. 1.78 billion. The foreign inflows so far this year recorded Rs. 20.41 billion.