Foreigners step up buying in a market full of local blood

Wednesday, 15 February 2012 00:43 - - {{hitsCtrl.values.hits}}

The world’s worst performing Colombo Bourse’s redeemer is the continuing net foreign inflow for the fourth consecutive day.

Yesterday’s inflow was Rs. 468 million, bringing the total up to to Rs. 1.1 billion.

Among favourites of foreigners were premier blue chip JKH, Commercial Bank, CTC, Tokyo Cement and Expolanka.

Yesterday Commercial Bank was the hot favourite of foreign investors as non-national shareholding rose by 2.5 million shares. Among foreign buyers were US fund Ruffer which had bought 10 million shares. Overall 11.1 million shares of Commercial traded for Rs. 1.19 billion.

Majority of the selling came from SBI Ven Holdings.

Captains also sold some big blocks of Commercial yesterday and Monday midst buying of Sampath Bank, HNB and NDB shares yesterday whilst they traded heavily on JKH.

Bulk of 2 million shares of JKH traded for Rs. 317 million was also bought by foreigners with many locals among sellers.