COLOMBO, April 6 Sri Lankan shares rose for an
eighth straight session on Thursday to their highest close in
nearly four months led by blue chips such as Ceylon Tobacco
Company Plc and John Keells Holdings Plc as
continued foreign buying boosted sentiment.
The Colombo stock index ended 0.83 percent firmer at
6,250.04, its highest close since Dec. 19, 2016. The index rose
1.1 percent last week, posting its first weekly gain in six. The
index climbed 4.60 percent in the last eight sessions through
"Market bounced back from its oversold position on foreign
buying, Thanks to the blue chip counters. But whether this trend
will continue or not is the question," said Yohan Samarakkody,
head of research, SC Securities.
"Everything depends on how foreign buyers react in the
Foreign investors net bought shares worth 256.6 million
rupees ($1.69 million) on Thursday, raising the year-to-date net
foreign inflow to 6.33 billion rupees in equities. They have net
bought 3.84 billion worth equities in the past 13 sessions.
Turnover stood at 578.05 million rupees, less than this
year's daily average of 745.1 million rupees.
Shares of Ceylon Tobacco Company Plc gained 3.44 percent,
conglomerate John Keells Holdings Plc climbed 1.37 percent,
while Colombo Cold Stores Plc rose 0.84 percent.
($1 = 151.7000 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sherry