Sri Lanka shares up sixth straight session; near 5-month high

COLOMBO, Jan 16 (Reuters) - Sri Lankan stocks rose for a sixth straight session to a near five-month high on Thursday, led by market heavyweight John Keells Holdings PLC, as falling interest rates helped retail investor sentiment and foreign investors bought risky assets on a net basis. 

The main stock index gained 0.83 percent, or 50.59 points, to end at 6,166.98, its highest close since Aug. 19. It has gained 3.73 percent in the last six sessions and is in an overbought market. 

Shares in conglomerate John Keells Holdings rose 3.98 percent to 240.20 rupees. Analysts said the central bank's interest rate cut on Jan. 2 and the recent fall in T-bill yields had boosted sentiment and helped sustain gains. 

The yield on 91-day T-bills fell at a weekly auction on Monday to its lowest since January 2007, the date the central bank made data available. 

Yields on 182-day and 364-day T-bills are at their lowest since Oct. 15, 2010. The index has risen 4.30 percent so far this year after a 4.8 percent gain in 2013. It fell in 2012 and 2011. 

The day's turnover was 1.87 billion rupees ($14.31 million), surpassing last year's daily average of about 828.4 million rupees. 

Foreign investors were net buyers of 552.9 million rupees worth of shares on Thursday, extending the year-to-date net inflow to 719.1 million rupees. 

Offshore investors bought a net 22.88 billion rupees worth of stocks last year. 

($1 = 130.7000 Sri Lanka rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair)

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Sri Lanka stocks up 0.8-pct

Jan 16, 2014 (LBO) – Sri Lanka stocks end on a strong note Thursday recording a gradual increase in the intra day trading amid strong foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 50.59 points higher at 6,166.98, up 0.83 percent. The S&P SL20 closed 38.98 points higher at 3,427.05, up 1.15 percent.

Turnover was 1.86 billion rupees, up from 1.37 billion rupees last Monday, with stocks of 62 firms closing in the red against 139 gainers.

HNB closed 2.90 rupees higher at 157.00 rupees with six off market transactions of 504.21 million rupees contributing to 27 percent of the total turnover today.

The Finance Company closed 1.00 rupee higher at 14.70 rupees, attracting most number of trades during the day.

Foreigners bought 917 million rupees worth shares while selling 364 million rupees of shares.

JKH closed 9.20 rupees higher at 240.20 rupees and Aitken Spence closed 4.30 rupees higher at 106.50 rupees, contributing most to the index gain.

JKH’s W0022 warrants closed 1.20 rupees higher at 85.10 rupees and its W0023 warrants closed 10 cents higher at 90.10 rupees.

Nestle Lanka ended 25.00 rupees higher at 2,140.10 rupees and Carson Cumberbatch ended 2.70 rupees higher at 354.20 rupees.

Ceylon Tobacco Company closed 6.00 rupees lower at 1,220.30 rupees and Cargills Ceylon closed 1.50 rupees lower at 146.50 rupees.


Distilleries ended 1.50 rupees higher at 203.00 rupees and Bukit Darah closed 2.10 rupees higher at 620.00 rupees.

Commercial Leasing and Finance ended 20 cents lower at 3.90 rupees and Lanka Orix Leasing Company closed 40 cents lower at 72.00 rupees.

DFCC gained 1.30 rupees to 151.40 rupees and NDB closed 1.10 rupees higher at 185.90 rupees.

Commercial Bank dropped 10 cents to 126.60 rupees and People’s Leasing and Finance closed 50 cents higher at 14.50 rupees.

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