May 19 (Reuters) Sri Lankan shares ended higher on Friday, posting the eighth straight gain on week and hitting their highest closing level in more than 16 months, led by blue chips such as John Keells Holdings Plc.
The Colombo stock index ended 0.47 percent firmer at
6,729.66, its highest close since Jan. 7, 2016.
It rose 0.83 percent during the week, and has climbed 11
percent since March 31.
Turnover stood at 618.02 million rupees ($4.06 million),
less than this year's daily average of 893.4 million rupees.
"The market is up on significant buying interest in John
Keells. There was some buying interest in some finance companies
too," said Dimantha Mathew, head of research, First Capital
"We expect profit-taking next week as the market needs some
Foreign investors net bought shares worth 728,954 rupees,
extending the year-to-date net foreign inflows to 18.02 billion
Shares in Nanda Investment Plc rose 24.89 percent to hit
a record closing high, while conglomerate John Keells Holdings
Plc climbed 1.51 percent and Browns Investment Plc was
up 15.79 percent.