JKH dominates for third day

Hiran H. SENEWIRATNE

Blue chip John Keells Holdings (JKH) dominated the market yesterday for the third consecutive day contributing 76 per cent to the total equity turnover of the day.

The reason for the JKH shares to trade is due to the high level of interest from foreign buyers. The total equity turnover was Rs. 155 million.

Other heavily traded stokes were CIC 99,500. Asian Alliance Investment 89,000 and Dialog Telekom 123,000.

The reason for foreign investors to invest in JKH is that the company is well-diversified and established.

Therefore during the week foreign investors used that opportunity to buy those shares of the entity, analyst said.

“Given the prevailing market conditions, investors should not limit their investment to the stock market alone, but look for opportunities across a broader horizon. But there should be strong local institutional support for the market to boost,” the analyst said.