Stocks up on diversified shares; foreigners net sellers

Reuters: Stocks edged up on Friday ending four straight losing sessions, led by diversified shares like conglomerate John Keells Holdings, but foreign investors were net sellers for the second straight session.

The Colombo Stock Exchange’s main index ended 0.3 per cent, or 17.38 points, firmer at 5,738.24, edging up from its lowest level since 12 September.

John Keells rose 0.93 per cent to 205.40 rupees a share. It fell 2.54 per cent to 203.50 rupees a share on Thursday.

Turnover was Rs. 475.3 million ($ 3.70 million), half of this year’s daily average of Rs. 948 million.

The market saw a net foreign outflow of Rs. 38 million. However, foreigners have been net buyers to the tune of Rs. 32.43 billion this year.

The rupee closed a tad weaker at 128.30/50 to the dollar compared with Thursday’s close of 128.30/40, dealers said.