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Sri Lankan shares recover from 10-day low in dull trade
October 20, 2017 / 11:55 AM / a month ago

Sri Lankan shares recover from 10-day low in dull trade

COLOMBO, Oct 20 (Reuters) - Sri Lankan shares snapped a three-session decline to end slightly firmer on Friday, as investors picked up beverage shares in thin volume, brokers said.

The Colombo stock index finished 0.26 percent higher at 6,572.70, edging up from its lowest close since Oct. 10 hit in the previous session. But the bourse fell 0.9 percent for the week, recording its first weekly fall in six.

“Some retail activities in mid-cap shares helped the market to end higher. The retail activities gave some boost to investor sentiment,” said Atchuthan Srirangan, senior research analyst, First Capital Holdings PLC.

“Foreign investors were net buyers for the day and that also helped the market to end up.”

Shares of Ceylon Tobacco Company Plc ended 3 percent higher while Chevron Lubricants Lanka Plc closed 4.6 percent up and Nestle Lanka Plc finished 2.6 percent firmer.

Turnover was 568.1 million rupees ($3.70 million), less than this year’s daily average of 938 million rupees.

Foreign investors were net buyers of shares worth 51.9 million rupees on Friday extending the year-to-date net foreign inflow to 19.1 billion rupees worth of shares.

$1 = 153.6500 Sri Lankan rupees Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sherry Jacob-Phillips

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