Sri Lankan shares mark 4-wk closing high on foreign buying

Retail Holdings NV

19/09/2017 12:32

COLOMBO, Sept 19 (Reuters) - Sri Lankan shares gained for a 
fourth straight session on Tuesday to mark a four-week closing 
high on foreign buying in blue-chips. 
    Foreign investors bought a net 129.9 million rupees  
($848,188) worth of shares on Tuesday, extending the 
year-to-date net foreign inflow to 17.1 billion rupees. 
    The Colombo stock index  .CSE  ended up 0.29 percent at 
6,428.07, its highest close since Aug. 18.  
    "Foreign investors were active today, helping to push the 
turnover above one billion. Foreign interest were buying 
blue-chips and that helped boost local investor confidence," 
said Hussain Gani, deputy CEO of Softlogic Stockbrokers. 
    Shares of Ceylon Cold Stores Plc  CCS.CM  rose 1.5 percent, 
while Trans Asia Hotel Plc  TRAN.CM  ended 6.7 percent firmer 
and conglomerate John Keells Holdings Plc  JKH.CM  gained 0.2 
percent. 
    Turnover stood at 1.6 billion rupees, well above this year's 
daily average of around 922.4 million rupees.  
    Recent block deals also helped boost sentiment, traders 
said.  
    Last Wednesday, after market hours, diversified conglomerate 
Hayleys Plc  HAYL.CM  said it had agreed to purchase 61.73 
percent of Singer Sri Lanka Plc  SINS.CM  for 10.9 billion 
rupees from Retail Holdings (Sri Lanka) BV a subsidiary of 
Retail Holdings NV  RHDGF.PK .  urn:newsml:reuters.com:*:nL4N1LU3R3 
    Hayleys in a corporate disclosure said on Friday that 
Hayleys Plc and its subsidiaries purchased 231.9 million shares 
or 61.73 percent of Singer Sri Lanka Plc at a price of 47 rupees 
per share. 
    Last week, top mobile phone operator Dialog Axiata Plc said 
it acquired 80.34 percent of Colombo Trust Finance Plc  CAFL.CM  
for 1.072 billion rupees ($7 million).  urn:newsml:reuters.com:*:nL4N1LT3FJ 
($1 = 153.1500 Sri Lankan rupees) 
 
 (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil 
Nair) 
 ((ranga.sirilal@thomsonreuters.com; +94-11-232-5540; Reuters 
Messaging: ranga.sirilal.thomsonreuters.com@reuters.net; 
www.twitter.com/rangaba)) 
 
Keywords: SRI LANKA STOCKS/