Sri Lankan shares soar

Sri Lankan shares notched a near three-week closing high on Tuesday led by market heavyweight John Keells Holdings, but political uncertainty ahead of a local election next month weighed on sentiment, dealers said. Sri Lanka will hold a long-delayed local government election on February 10. The Colombo stock index ended up 0.35 percent at 6,476.41, its highest close since January 11. The index rose 0.19 percent last week, recording its first weekly gain in three.
Shares in conglomerate John Keells Holdings Plc closed up 1.1 percent, while Janashakthi Insurance Company Plc rose 17.7 percent. Dialog Axiata Plc ended 1.5 percent higher. Foreign investors bought a net 18.5 million rupees worth of shares on Tuesday.