Sri Lanka shares gain; John Keells leads

COLOMBO, Jan 20 (Reuters) - Sri Lankan stocks rose on Monday, led by diversified shares such as John Keells Holdings PLC, but foreign investors sold risky assets in an overbought market. 

 The main stock index rose 0.42 percent, or 25.63 points, to end at 6,156.68. "We see positive sentiment and retail investors are gradually coming in to the market," a stockbroker said. 

"The fall in interest rates and the Singapore road show should help the market to sustain the gains." 

 Officials from the bourse and the Securities and Exchange Commission along with some top company officials and brokers are in Singapore for a road show to attract more foreign funds. 

 Shares of market heavyweight and top conglomerate John Keells Holdings rose 1.97 percent to 242.70 rupees. 

 The market has gained 3.56 percent in the last eight sessions, which analysts attributed to the central bank's interest rate cut on Jan. 2 and the recent fall in T-bill yields. 

 The index has been in an overbought region since Jan. 7, Thomson Reuters data showed. 

It has risen 3.69 percent so far this year after a 4.8 percent gain in 2013 after having fallen in the previous two years. 

 The day's turnover was 675.8 million rupees ($5.17 million), below last year's daily average of about 828.4 million rupees. 

 Foreign investors were net sellers for the second straight session on Monday, selling 46.9 million rupees worth of shares. 

But they have been net buyers of 591.9 million rupees in shares so far this year after buying 22.88 billion rupees 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 end up 0.4-pct

Jan 20, 2014 (LBO) – Sri Lanka stocks close up 0.42 percent Monday reversing last Friday’s losses with index heavy stocks gaining, brokers said.

The Colombo benchmark All Share Price Index closed 25.63 points higher at 6,156.68, up 0.42 percent. The S&P SL20 closed 17.77 points higher at 3,425.71, up 0.52 percent.

Turnover was 675.77 million rupees, down from 1.64 billion rupees last Friday, with stocks of 97 firms closing in the red against 85 gainers.

Chevron Lubricants closed 60 cents higher at 280.60 rupees and topped the off market turnover list with two transactions of 119.65 million rupees contributing to 18 percent of the turnover today.

JKH ranked first in the market transactions list with 52.85 million rupees contributing to 8 percent of the turnover.

The Finance Company closed 50 cents lower at 13.60 rupees and Lanka Orix Finance closed 40 cents higher at 3.70 rupees, attracting most number of trades during the day.

Foreigners bought 233 million rupees worth shares while selling 280 million rupees of shares.

Diversified JKH closed 4.70 rupees higher at 242.70 rupees and Carson Cumberbatch ended 19.50 rupees higher at 369.50 rupees, contributing most to the index gain.

JKH’s W0022 warrants closed flat at 79.90 rupees and its W0023 warrants closed 20 cents higher at 84.80 rupees.

Commercial Leasing and Finance closed 60 cents higher at 4.50 rupees and Lanka Orix Leasing Company closed 1.00 rupee higher at 73.50 rupees.

Ceylon Tobacco Company closed 2.10 rupees higher at 1,203.70 rupees and Dialog dropped 10 cents to 9.20 rupees.

Nestle Lanka ended 21.60 rupees lower at 2,117.90 rupees and Distilleries ended 3.00 rupees lower at 200.00 rupees.


Cargills Ceylon closed 50 cents lower at 146.00 rupees and Bukit Darah closed 5.00 rupees higher at 620.00 rupees.

Lion Brewery Ceylon closed 1.00 rupee lower at 379.00 rupees and Aitken Spence remain unchanged at 105.00 rupees.

NDB closed 20 cents lower at 182.00 rupees and HNB closed 90 cents higher at 159.00 rupees.
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