A day after the Colombo bourse recorded its worst fall in 10 months on West Asian tensions, share prices recovered on Thursday on the back of Malaysia’s sovereign fund Khazanah Nasional's Broga Hill Investments Ltd selling its entire 10.8 per cent in John Keels Holdings (JKH), in a Rs. 22 billion deal, to Citi Group’s Global Markets Ltd.
The turnover was a staggering Rs. 23.6 billion, the second highest turnover next to the Japan’s Nippon Telegraph and Telephone Company (NTT) selling its 35.19 per cent stake of Sri Lanka Telecom (SLT) for Rs. 32 billion many years ago which was the biggest ever single transaction in the Colombo Stock Exchange’s history.
Analysts were expecting shares to further drop due to the investor’s panic reaction after the face-off between Iran and the US, but this massive transaction saved the day.
The ASPI closed at 5,987.55, up by 1.5 per cent with the S&P index ending at 2,830.76, up by 1.74 %. (DEC)
The funeral of arguably the Queen of the Sinhala cinema Malini Fonseka, will be held with state honours on Monday, May 26, 2025, at the Independence Square.
The NPP government has been at the wheel for almost 6 months now. The time to keep looking at the rear view mirror and living in the past is about over.
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