COLOMBO May 5 Sri Lankan shares rose to a
one-year closing high on Friday, led by banking and diversified
stocks, on continued foreign buying.
The Colombo stock index ended 0.58 percent stronger
at 6,640.57, its highest close since May 2016. It added 0.5
percent for the week, its sixth straight weekly gain.
Foreign investors net bought shares worth 82.4 million
rupees ($541,215), extending their year-to-date investment in
equities to 16.61 billion rupees.
They bought a net 14.1 billion rupees in the last 30
sessions, and out of these, the bourse saw net foreign buying in
"The market is up with continued foreign buying and active
participation of local retail and high net-worth investors,
which was lacking for some time," said Dimantha Mathew, head of
research, First Capital Holdings PLC.
Analysts said the market would continue to be bullish amid
The IMF said on Wednesday its executive board is expected to
consider a request from Sri Lanka to conclude the second review
of a $1.5 billion loan, which could help the island nation to
receive the third disbursement.
Shares of Commercial Bank of Ceylon Plc rose 0.3
percent, Dialog Axiata Plc climbed 1.7 percent, C T
Holdings Plc gained 2.6 percent and Ceylinco Insurance
Plc ended 2.19 percent firmer.
Conglomerate John Keells Holdings Plc rose 0.49
percent and Hatton National Bank Plc ended 0.48 percent
Turnover stood at 767.5 million rupees, less than this
year's daily average of 899 million rupees.
($1 = 152.2500 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by