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Sri Lankan shares edge up; earnings, budget in focus
October 31, 2017 / 11:16 AM / 25 days ago

Sri Lankan shares edge up; earnings, budget in focus

COLOMBO, Oct 31 (Reuters) - Sri Lankan shares closed marginally higher on Tuesday in lacklustre trade as investors awaited cues from the September-quarter corporate results and the national budget scheduled to be presented next week.

The Colombo stock index closed 0.15 percent higher at 6,617.36, after two straight losing sessions.

“It was a sluggish day with investors awaiting for direction from earnings and the budget,” said Prashan Fernando, CEO at Acuity Stockbrokers.

Finance Minister Mangala Samaraweera will present the 2018 budget on Nov. 9.

Top lender Commercial Bank of Ceylon Plc gained 1.8 percent, while Hatton National Bank rose 2.0 percent. Ceylon Tobacco Co Plc climbed 1.5 percent.

Foreign investors bought shares net worth 166.7 million rupees ($1.1 million), extending the year-to-date net inflows to 20 billion in equities.

The session’s turnover was 732.5 million rupees, compared with this year’s average daily turnover of 942.3 million rupees.

$1 = 153.5500 Sri Lankan rupees Reporting by Shihar Aneez; Editing by Amrutha Gayathri

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