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Sri Lankan shares rise for 4th session; beverage, diversified stocks up
October 13, 2017 / 12:28 PM / 9 days ago

Sri Lankan shares rise for 4th session; beverage, diversified stocks up

COLOMBO, Oct 13 (Reuters) - Sri Lankan shares rose for a fourth straight session on Friday and posted their highest close in more than 10 weeks, as investors bought beverage and diversified stocks, brokers said.

The Colombo stock index ended 0.16 percent firmer at 6,632.30, its highest close since July 31. It rose 1.6 percent this week in its fifth straight weekly gain.

“This week we have seen a big rally and today we saw some profit-taking, but the market ended firmer on the continued bullish trend,” said Atchuthan Srirangan, a senior research analyst with First Capital Holdings PLC.

Shares of Ceylon Cold Stores Plc ended 3.2 percent firmer, Lion Brewery (Ceylon) Plc rose 6.0 percent and John Keells Holdings Plc ended up 0.2 percent.

Turnover was 688.4 million rupees ($4.48 million), less than this year’s daily average of 937 million rupees.

Foreign investors were net sellers of shares worth 8.8 million rupees on Friday, after having bought 3.7 billion rupees of equities in the 16 sessions through Tuesday. They have net bought 20.2 billion rupees worth of shares so far this year. ($1 = 153.7000 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Subhranshu Sahu)

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