AIRLINK 200.02 Increased By ▲ 6.46 (3.34%)
BOP 10.23 Increased By ▲ 0.28 (2.81%)
CNERGY 7.83 Decreased By ▼ -0.10 (-1.26%)
FCCL 40.00 Decreased By ▼ -0.65 (-1.6%)
FFL 16.80 Decreased By ▼ -0.06 (-0.36%)
FLYNG 26.50 Decreased By ▼ -1.25 (-4.5%)
HUBC 132.79 Increased By ▲ 0.21 (0.16%)
HUMNL 13.99 Increased By ▲ 0.10 (0.72%)
KEL 4.67 Increased By ▲ 0.07 (1.52%)
KOSM 6.57 Decreased By ▼ -0.05 (-0.76%)
MLCF 46.66 Decreased By ▼ -0.94 (-1.97%)
OGDC 211.89 Decreased By ▼ -2.02 (-0.94%)
PACE 6.89 Decreased By ▼ -0.04 (-0.58%)
PAEL 41.34 Increased By ▲ 0.10 (0.24%)
PIAHCLA 17.02 Decreased By ▼ -0.13 (-0.76%)
PIBTL 8.13 Decreased By ▼ -0.28 (-3.33%)
POWER 9.37 Decreased By ▼ -0.27 (-2.8%)
PPL 181.45 Decreased By ▼ -0.90 (-0.49%)
PRL 41.60 Decreased By ▼ -0.36 (-0.86%)
PTC 24.69 Decreased By ▼ -0.21 (-0.84%)
SEARL 112.25 Increased By ▲ 5.41 (5.06%)
SILK 1.00 Increased By ▲ 0.01 (1.01%)
SSGC 44.00 Increased By ▲ 3.90 (9.73%)
SYM 19.18 Increased By ▲ 1.71 (9.79%)
TELE 8.91 Increased By ▲ 0.07 (0.79%)
TPLP 12.90 Increased By ▲ 0.15 (1.18%)
TRG 67.40 Increased By ▲ 0.45 (0.67%)
WAVESAPP 11.45 Increased By ▲ 0.12 (1.06%)
WTL 1.78 Decreased By ▼ -0.01 (-0.56%)
YOUW 4.00 Decreased By ▼ -0.07 (-1.72%)
BR100 12,170 Increased By 125.6 (1.04%)
BR30 36,589 Increased By 8.6 (0.02%)
KSE100 114,880 Increased By 842.7 (0.74%)
KSE30 36,125 Increased By 330.6 (0.92%)

Sri Lankan stocks gained more than 1 percent on Thursday, hovering near a three-year closing high, led by large caps as indications of a cut in key policy rates by the central bank governor helped investors shift to riskier assets. The main stock index gained 1.1 percent, or 74.92 points to 6,908.18, its highest close since September 14, 2011, boosting market capitalisation by 31.44 billion rupees ($241.53 million). It has risen 16.8 percent so far this year.
"Buying by foreign investors in John Keells Holdings pushed up foreign inflows and turnover," said Reshan Wediwardana, research analyst at First Capital Equities (pvt) Ltd. Stockbrokers said investors had "no option" but to buy into stocks due to low interest rates as the market is expecting another rate cut during the August 15 policy rate announcement.
Central bank chief Ajith Nivard Cabraal said on Thursday there was a greater chance of a cut, rather than a hike, in key policy rates, a day after yields on one-year government debt fell to 6.45 percent, below the rate of 6.50 percent at which the central bank mops up liquidity from commercial banks. Shares in Keells ended 0.84 percent firmer at 238 rupees, while large cap shares like Ceylon Tobacco Company and Carson Cumberbatch helped boost the main index with 2.54 percent and 2.17 percent gains, respectively. Turnover was 2.24 billion rupees ($17.21 million), more than double this year's daily average of about 1.01 billion rupees.

Copyright Reuters, 2014

Comments

Comments are closed.