Shares end firmer on foreign buying

REUTERS: Sri Lankan shares ended marginally higher yesterday in heavy trade, near a nine-week closing high hit last week, as foreign buying boosted investor sentiment, brokers said.

Foreign investors bought a net Rs.499.3 million (US$3.25 million) worth of equities yesterday, extending their year-to-date net foreign inflow to Rs.20.6 billion worth of shares.

Turnover stood at Rs.2.2 billion, more than double this year’s daily average of Rs.930.5 million.
The Colombo stock index ended 0.12 percent firmer at 6,523.68, near its highest close since Aug. 4 hit on Friday. The index had risen 1.4 percent last week, recording its fourth straight weekly gain.

“Foreign buying helped to keep the market positive. There was a lot of foreign buying in banks,” said Hussain Gani, deputy CEO at Softlogic Stockbrokers.

Shares of biggest listed lender Commercial Bank of Ceylon Plc ended 1.9 percent up, while Hatton National Bank Plc rose 2.4 percent and Sampath Bank Plc ended 2.5 percent firmer.