Bourse rebounds on JKH, foreign inflows

Friday, 19 July 2013 03:47 - - {{hitsCtrl.values.hits}}

Reuters: Shares recovered from a one-week closing low on Thursday, snapping a four-session losing streak, led by market heavyweight John Keells Holdings and on net foreign inflow. But concerns over a falling rupee capped the appetite for the island nation’s risky assets. The main share index ended 0.05%, or 3.1 points, firmer at 5,985.45, recovering from its one-week closing low hit in the previous session. Foreign investors bought net Rs. 349 million ($ 2.65 million) in shares, extending the year-to-date offshore inflow to Rs. 16.84 billion. John Keells closed up 1.63% at Rs. 250. Turnover was Rs. 665.2 million ($ 5.05 million), Bourse data showed, well below this year’s daily average of around Rs. 962 million. The local currency hit a 10-month low in early trade due to importer demand for dollar.

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