COLOMBO, April 12 Sri Lankan shares extended
gains for an eleventh straight session, posting their biggest
single-day gain in more than two years, as foreign investors
aggressively bought blue chip stocks.
The Colombo stock index ended 1.55 percent firmer at
6,402.99, its highest close since Nov. 15, 2016. The index
recorded its biggest percentage gain since Feb. 6, 2015.
The index has gained 1.75 percent during the week, posting
its third weekly gain in eight. It has climbed 7.16 percent in
the last 11 sessions through Wednesday.
The market has seen fund inflows for 16 straight sessions
through Wednesday, with foreign investors buying a net 5.22
billion rupees ($34.31 million) worth of equities in the same
They net bought shares worth 319 million rupees on
Wednesday, raising the year-to-date net foreign inflow into
equities to 7.71 billion rupees.
"Continuous foreign buying in John Keells Holdings
and Ceylon Tobacco Company helped the gain," said
Atchuthan Srirangan, a senior research analyst with First
Capital Holdings PLC.
Shares of Ceylon Tobacco Company plc jumped 9.8 percent,
while Ceylon Cold Stores Plc gained 2.87 percent and
biggest listed Lender Commercial Bank of Ceylon Plc
rose 2.66 percent and conglomerate John Keells Holdings Plc
rose 1.33 percent.
Turnover stood at 2.37 billion rupees, the highest since
Feb. 28 and well above this year's daily average of 780.7
Sri Lanka will celebrate its traditional new year this week
and the markets will be closed on Thursday and Friday.
($1 = 152.1300 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Vyas