May 5, 2014 / 11:26 AM / 4 years ago

Sri Lankan bourse steady at over 3-month high; turnover high

COLOMBO, May 5 (Reuters) - Sri Lankan shares edged up on Monday, rising for the fifth straight session to hit their highest in more than three months on foreign inflows as a lower interest rate regime helped boost sentiment.

The country’s main stock index edged up 0.02 percent, or 0.99 points, to 6,249.43, its highest close since Jan. 29. It has gained 1.32 percent in the last five sessions.

The market gained 4.28 percent in April as some retail investors started buying risky assets given low interest rates, with buying seen across the board.

The central bank on April 22 kept policy rates steady at multi-year lows.

The day’s turnover was 1.25 billion rupees ($9.57 million), more than this year’s daily average of 964 million rupees.

Offshore investors were net buyers of 153.2 million rupees worth of stocks on Monday, but they have been net sellers of 7.25 billion rupees so far this year.

Conglomerate Aitken Spence PLC rose 3.42 percent to 102.80 rupees a share, while Dialog Axiata PLC rose 1.08 percent to 9.40 rupees. ($1 = 130.6250 Sri Lanka rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair)

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