COLOMBO, April 27 Sri Lankan shares closed at a
near seven-month high in heavy trading on Thursday as foreign
buying for 25 sessions in a row took net inflows into equities
to 13.1 billion rupees ($86.1 million) and boosted sentiment.
Foreign investors bought shares worth 810 million rupees on
a net basis in the session, bringing the year-to-date net equity
inflows to 14.7 billion rupees.
The Colombo stock index gained 0.85 percent at
6,571.65, its highest close since Oct.7.
The index has climbed 10 percent in the 20 sessions through
Thursday, having risen for 17 sessions in that period.
It added 2.1 percent last week, marking its fourth week of
"Foreign buying is now spreading to some other counters from
John Keells. Foreigners see value in these stocks and local
investors have been waiting for investor confidence," said
Hussain Gani, deputy CEO at Softlogic Stockbrokers.
Turnover stood at 1.84 billion rupees, more than double of
this year's daily average of 894.2 million rupees.
Market heavyweight John Keells Holdings gained 1.8
percent, while top lender Commercial Bank of Ceylon
rose 1.9 percent.
($1 = 152.1000 Sri Lankan rupees)
(Reporting by Shihar Aneez; Editing by Amrutha Gayathri)