Shares end firmer on re­tail buy­ing

Daily Mirror (Sri Lanka) - - BUSINESS NEWS -

REUTERS: Sri Lankan shares ex­tended gains into a sec­ond ses­sion yes­ter­day in heavy trade and posted their high­est close in over two months, as re­tail in­vestors bought, par­tic­u­larly plan­ta­tion stocks, after re­cent for­eign buy­ing, bro­kers said.

Turnover was Rs.1.93 bil­lion, more than dou­ble this year’s daily av­er­age of Rs.935.8 mil­lion.

For­eign in­vestors were net sell­ers of shares worth Rs.132.8 mil­lion, after hav­ing bought Rs.3.7 bil­lion of eq­ui­ties in the 17 ses­sions through Tues­day.

They have net bought Rs.20.1 bil­lion worth of shares so far this year.

The Colombo stock in­dex ended 0.55 per­cent firmer at 6,559.61, its high­est close since Au­gust 4. The in­dex rose 1.4 per­cent last week in its fourth straight weekly gain.

“There was a lot of for­eign in­ter­est in banks and re­tail in­ter­est in some plan­ta­tion companies. We see a re­vival in re­tail buy­ing,” said Acu­ity Stock­bro­kers CEO Prashan Fer­nando.

Shares of Com­mer­cial Bank of Cey­lon PLC, the coun­try’s big­gest listed lender, ended up 0.5 per­cent, Hat­ton National Bank PLC rose 2.7 per­cent and Sam­path Bank PLC ended 3.4 per­cent firmer.

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