Bourse at 3-week high

Tuesday, 10 December 2013 00:11 - - {{hitsCtrl.values.hits}}

Reuters: Stocks rose for the second straight session on Monday to a three-week high close in low trade despite foreign outflows, led by the market heavyweight John Keells Holdings and Commercial Bank of Ceylon PLC. The main stock index rose 0.19%, or 11.06 points, to 5,821.30, its highest since 18 November. Analysts said investors shrugged off the Central Bank’s decision of holding key policy interest rates steady at multi-year lows early in the day as expected. The Central Bank said the outlook for inflation remained favourable. Shares in conglomerate John Keells Holdings PLC rose 2.14% to Rs. 215 a share, while Commercial Bank of Ceylon PLC, the biggest listed lender, rose 1.3% to Rs. 115.50. The day’s turnover was Rs. 332.2 million ($ 2.5 million), the lowest since 29 November and less than half of this year’s daily average turnover of Rs. 847.3 million. Foreign investors were net sellers for the first time in four sessions. They sold Rs. 22.8 million worth of shares on Monday, but have been net buyers of Rs. 22.85 billion so far this year.

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