Shares end at one-month closing high

23 July 2016 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS: Sri Lankan shares rose for a second straight session yesterday and posted its highest close in a month, helped by gains in large-cap beverage shares, while investors awaited directions on the macro economy.


The benchmark Colombo stock index ended up 0.18 percent, or 11.31 points, at 6,428.77, its highest close since June 21. The bourse rose 0.09 percent during the week recording a third weekly gain.
“Investors seem to be picking their stocks. Bargain hunting has been happening,” said Dimantha Mathew, head of research, First Capital Equities (Pvt) Ltd.


“Slowly, the interest is growing in the market, but with a note of caution, until the policy statement is out.”


Analysts said investors are waiting for a direction on the country’s economic policies, which is expected to be announced by Prime Minister Ranil Wickremesinghe next month.
The investor sentiment also got a boost after Sri Lanka raised $1.5 billion in its first sale of dual-tranche eurobonds last week.

  Comments - 0


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Murder most foul

Sixty-one years ago on September 25, 1959 Solomon West Ridgeway Dias Bandaran

What went wrong in Kandy?

Tragedy struck when a five-storey building caved in and collapsed, killing a

The 20th Amendment Bill Lest We Forget

Strident calls were repeatedly made from many quarters for the 19th Amendment

Public transport 'side-laned'?

“Miss, mantheeru neethiya nisa api bus passen yanna one. Ithin drop eka par