COLOMBO, April 30 Sri Lankan shares rose to
their three-month peaks on Wednesday in high turnover as
investors bought large caps such as Ceylon Tobacco Company Plc
in small quantities.
A lower interest rate regime helped the market, with
turnover hitting a three-week high, though foreign investors
sold the island nation's risky assets.
The country's main stock index rose 0.6 percent, or
37.42 points, to 6,223.67, its highest since Jan. 31.
The market gained 4.28 percent in April as some retail
investors started buying risky assets in the face of low
"The market looks positive, interest rates are also coming
down," said a stockbroker.
Lower interest rates have helped the market gain in the past
few weeks and we have seen activity across the board,
Last week the central bank kept policy rates steady at
The day's turnover was 1.23 billion rupees ($9.42 million),
its highest since April 9 and more than this year's daily
average of 956.5 million rupees.
Shares of Union Bank of Colombo rose 0.47 percent
to 21.50 rupees, while Ceylon Tobacco Company advanced
3.18 percent to 1,099.20 rupees. Aitken Spence rose
0.71 percent to 98.70 rupees.
Offshore investors were net sellers of 55 million rupees
worth of stocks on Wednesday, extending the net foreign selling
so far this year to 7.19 billion rupees.
($1 = 130.6100 Sri Lanka Rupees)
(Reporting by Ranga Sirilal; Editing by Subhranshu Sahu)