November 10, 2016 / 1:35 PM / 3 years ago

Sri Lankan shares end little changed ahead of national budget

COLOMBO, Nov 10 (Reuters) - Sri Lankan shares closed nearly unchanged on Thursday in thin trade as investors turned cautious ahead of the national budget, which proposed revisions to corporate and withholding taxes to boost revenue and cut the country’s fiscal deficit target.

The benchmark index of the Colombo Stock Exchange ended 0.05 percent higher, or up 3.23 points, at 6,420.78.

The index hit its lowest close since Nov. 1 on Wednesday.

Turnover stood at 294.3 million rupees ($2.00 million), well below this year’s daily average of 711.3 million rupees.

Foreign investors bought stocks for a seventh straight session, picking up shares worth a net 14.8 million rupees. They have net sold 884.5 million rupees worth of shares so far this year.

Shares in Lion Brewery Plc rose 0.94 percent, while the biggest listed lender, Commercial Bank of Ceylon Plc , gained 0.41 percent. ($1 = 147.4000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju Dwarakanath)

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