Foreign buying, JKH prop stock market

Reuters: Shares edged up on Thursday on foreign buying in market heavyweight John Keells Holdings, which hit a 29-month high.

The main share index ended 0.06% or 3.16 points up, at 5,688.98. John Keells Holdings gained 0.63% to reach Rs. 238.60. However, only 700,000 shares of JKH traded.

Foreign investors were net buyers of Rs. 261.2 million ($ 2.07 million) worth of shares, extending year-to-date foreign inflows to Rs. 3.43 billion.

Turnover was Rs. 609.2 million ($ 4.82 million), well below this year’s daily average of Rs. 1.04 billion.

The rupee ended firmer at 126.25/35 to the dollar from Wednesday’s close of 126.50/55 due to exporter dollar conversions, dealers said.