October 11, 2017 / 1:18 PM / 2 years ago

Sri Lankan shares end firmer on retail buying

COLOMBO, Oct 11 (Reuters) - Sri Lankan shares extended gains into a second session on Wednesday in heavy trade and posted their highest close in over two months, as retail investors bought, particularly plantation stocks, after recent foreign buying, brokers said.

Turnover was 1.93 billion rupees ($12.6 million), more than double this year’s daily average of 935.8 million rupees.

Foreign investors were net sellers of shares worth 132.8 million rupees, after having bought 3.7 billion rupees of equities in the 17 sessions through Tuesday. They have net bought 20.1 billion rupees worth of shares so far this year.

The Colombo stock index ended 0.55 percent firmer at 6,559.61, its highest close since Aug. 4. The index rose 1.4 percent last week in its fourth straight weekly gain.

“There was a lot of foreign interest in banks and retail interest in some plantation companies. We see a revival in retail buying,” said Acuity Stockbrokers CEO Prashan Fernando.

Shares of Commercial Bank of Ceylon Plc, the country’s biggest listed lender, ended up 0.5 percent, Hatton National Bank Plc rose 2.7 percent and Sampath Bank Plc ended 3.4 percent firmer. ($1 = 153.4000 Sri Lankan rupees) (Reporting by Shihar Aneez; Editing by Subhranshu Sahu)

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