COLOMBO, April 1 Sri Lankan stocks rose to
six-week highs on Tuesday, led by blue chips, but trading was
light as investors remained on the sidelines awaiting directions
after the United Nations announced it would probe alleged war
crimes by the island nation.
The main stock index ended 0.56 percent, or 33.52
points, firmer at 6,001.83, its highest since Feb. 19. The index
also breached the psychological barrier of 6000 points.
The days turnover was 341.5 million rupees, well below this
year's daily average of 897.99 million rupees.
The UN on Thursday launched an inquiry into war crimes
allegedly committed by both Sri Lankan state forces and Tamil
rebels during the conflict that ended in 2009, saying the
government had failed to investigate properly.
Analysts said the outcome of the resolution was expected,
but investors sentiment has been dented over concerns it could
hurt the country's economy. Several potential buyers of risky
assets are awaiting a clear direction.
The bourse suffered 2.77 billion rupees of foreign outflow
on Friday, a day after the resolution was passed. But brokers
said the foreign selling was not due to the resolution and the
relevant foreign fund has been on the selling side since
On Tuesday, the bourse saw a net foreign inflow of 181.6
million rupees ($1.4 million) worth of shares, but foreign
investors have been net sellers of 6.67 billion rupees so far
Shares in John Keells Holdings Plc gained 2.33
percent to 232.30 rupees, while Ceylon Tobacco Co rose
1.8 percent to 1075.00 rupees.
($1 = 130.7000 Sri Lanka rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Anand