Shares rise as foreign investors buy blue chips

REUTERS: Sri Lankan shares edged up from a one-week low yesterday as foreign investors bought shares in blue chips such as John Keells Holdings PLC, with turnover hitting a five-week high.
The Colombo stock index ended 0.32 percent firmer at 6,711.67, from its lowest close since May 15 hit on Tuesday.
The index rose 0.83 percent last week and has climbed 11 percent since March 31 through Friday.

Turnover stood at Rs.3.56 billion, its highest since April 19 and well above this year’s daily average of Rs.886.5 million.
Foreign investors net bought shares worth Rs.879.4 million, extending their year-to-date net inflows to Rs.19.4 billion.
“Continuous foreign participation improved market sentiment and we see that local participation is also improving which is a good sign,” said Softlogic Stockbrokers Deputy CEO Hussain Gani.
Shares in Hemas Holdings PLC jumped 5.40 percent, while the biggest listed lender, Commercial Bank of Ceylon PLC, climbed 1.47 percent and conglomerate John Keells Holdings PLC was up 1.19 percent.