Net inflows top Rs. 7 b

Wednesday, 17 April 2013 01:20 - - {{hitsCtrl.values.hits}}

Thanks to the deal on Pan Asia Bank, net foreign inflow to the Colombo Stock Exchange topped the Rs. 7 billion mark year-to-date.

The investment by Japan’s Bansei Securities for a 15% stake amounted to Rs. 930 million, of which Rs. 581 million was foreign selling. Overall the market saw a net inflow of Rs. 638 million with foreign buying of Rs. 1.33 billion and selling of Rs. 696 million.

Foreign activity accounted for 84% of the day’s turnover of Rs. 1.57 billion, with continued buying seen on banking sector stocks such as HNB, Commercial and Sampath.

Renewed foreign interest on banking sector stocks last week saw a net inflow of Rs. 650 million, bringing the year-to-date inflow to over Rs. 6 billion by Friday.

Last year despite downturn and exit by locals, foreign inflows were an all-time high of Rs. 39 billion, reversing capital flight in the previous two years.