Sri Lanka stocks gained 0.85 percent on foreign buying into John Keells Holdings and domestic buying into listed banks, with a turnover of 1.3 billion rupees, brokers said. The Colombo All Share Index gained 55 points to close at 6,514.73 while the S&P Index of more liquid stocks rose 1.03 percent gaining 38.67 points to 3,783.93.
Foreign investors were net buyers of Rs357 million worth of shares. Net foreign buying into John Keels amounted to 260 million rupees. “Foreign investors looking for exposure to Sri Lanka tend to pick John Keells Holdings, and banking stocks because they’re liquid. JKH has already gained 5 percent this year,” says Kanishka Herath, Head of Research, Asia Securities. JKH closed 2.6 percent higher at Rs160.