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Sri Lankan stx hit 9-wk high as blue chips gain
October 6, 2017 / 12:31 PM / 11 days ago

Sri Lankan stx hit 9-wk high as blue chips gain

COLOMBO, Oct 6 (Reuters) - Sri Lankan shares rose for a sixth straight session on Friday and closed at their highest in nine weeks as blue chips gained.

The Colombo stock index ended 0.34 percent higher at 6,529.05, its highest close since Aug. 4. The bourse rose 1.4 percent for the week, recording its fourth straight weekly gain.

Turnover stood at 922 million Sri Lankan rupees ($6.02 million), in line with this year’s daily average of 923.4 million rupees.

“The market is moving up steadily after breaching the psychological barrier of 6,500,” said Dimantha Mathew, head of research at First Capital Holdings.

“There was some profit-taking but the market is moving up on continued buying.”

Shares of Asiri Hospitals Plc gained 5.2 percent while Hatton National Bank Plc ended 1.1 percent higher and conglomerate John Keells Holdings Plc rose 0.2 percent.

Foreign investors, who bought a net 19.9 billion rupees worth of equities so far this year, were net sellers of 82.3 million rupees worth of shares on Friday.

Sri Lanka’s markets were closed on Thursday for a Buddhist holiday. ($1 = 153.2000 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Amrutha Gayathri)

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