Foreign investors sell as share prices in Sri Lanka recoup
Last week saw share prices in the country closing on a recovered level. Stockbrokers reported that foreigners who had invested when prices plummeted transformed to net sellers.
The benchmark All Share Price Index edged up 0.5 points (0.01%) to 6,390.74 while the more liquid S&P SL20 index gained 2 points (0.05%) to reach 3,685.96. Turnover was LKR 845 million.¹
Stockbroking firm, Asia Securities reported that foreigners who had purchased shares became net sellers offloading shares valued at a total LKR 70.5 million. Shares in Commercial Bank were the ones mainly offloaded by foreign sellers, with purchases of shares Teejay Lanka by foreign buyers increased.
According to the stockbroking company, Bartleet Religare Securities as of now in 2017 net foreign inflow of equities totalled LKR 27.5 billion, with the August 2017 inflow recording a total of LKR 1.74 billion.
The spike in share prices has proven beneficial to foresighted investors who took the opportunity to purchase when prices plummeted, securing clear profits when selling off at increased prices.
|Article Code :||VBS/AT/07092017/Z_4|