Sri Lanka stocks up on gains in large-caps, foreign buying

(Reuters) - Sri Lankan stocks rose on Monday to a near three-year closing high, led by large-cap shares such as Ceylon Tobacco Co Plc and foreign buying in John Keells Holdings Plc as expectations of better earnings and low interest rates lifted appetite for risky assets.

The main stock index rose 0.44 percent, or 30.86 points, to close at 6,974.71, its highest finish since Sept. 9, 2011.

The index has gained 18 percent so far this year.

"The market recovered after the profit-taking (on Friday) and people started buying. We might see a correction here and there, but the market will continue its run on low rates," said a stockbroker asking not to be named.

The bourse saw net foreign inflows of 238.9 million rupees ($1.8 million) on Monday, extending the year-to-date net foreign inflow to 12.01 billion rupees worth of shares.

Turnover was 1.79 billion rupees, higher than this year's daily average of 1.14 billion rupees.

Conglomerate John Keells, which accounted for 54 percent of the day's turnover, rose 0.84 percent to 240 rupees a share. Foreign investors bought a net 1.35 million Keells shares, bourse data showed.

The central bank held key policy rates at multi-year lows for the seventh straight month on Friday.

Ceylon Tobacco Co, which led the gain in the overall index, rose 3.36 percent to 1,224.70 rupees, while Sri Lanka Telecom Plc rose 2.95 percent to 55.80 rupees. (1 US dollar = 130.1500 Sri Lankan rupee) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)

Sri Lanka shares close up 0.4-pct

Aug 18, 2014 (LBO) - Sri Lanka's shares closed 0.44 percent higher, reversing the losses incurred last Friday with telco and tobacco stocks gaining, brokers said.

The Colombo benchmark All Share Price Index closed 30.86 points higher at 6,974.71, up 0.44 percent. The S&P SL20 closed 9.59 points higher at 3,830.57, up 0.25 percent.

Turnover was 1.79 billion rupees, down from 2.93 billion rupees last Friday with 75 stocks closed positive against 119 negative.

John Keells Holdings closed 2.00 rupees higher at 240.00 rupees with five off-market transactions of 674.55 million rupees changing hands at 240.00 rupees per share contributing 38 percent of the daily turnover.

JKH’s W0022 warrants closed 20 cents lower at 70.00 rupees and its W0023 warrants closed 3.10 rupees higher at 80.00 rupees.

The aggregate value of all off-the-floor deals represented 41 percent of the turnover.

MTD Walkers closed 5.30 rupees higher at 41.70 rupees, attracting most number of trades during the day.

Foreign investors bought 411.46 million rupees worth shares while selling 172.57 million rupees worth shares.

Ceylon Tobacco Company closed 39.80 rupees higher at 1,224.70 rupees, contributing most to the index gain.

Sri Lanka Telecom closed 1.60 rupees higher at 55.80 rupees.