Bourse ends firmer, banking shares lead

(Reuters) - Sri Lankan stocks closed at a one-week high on Friday, led by banking shares ahead of the announcement of September-quarter results, brokers said.

The main stock index ended 0.15% higher, or up 10.41 points, at 7,096.06, its highest close since October 2.

“We have seen buying starting to come into market from retail and institutional investors,” said Dimantha Mathew, a research manager at First Capital Equities (Pvt) Ltd.



“Things look a bit more positive ahead of the September quarter earnings,” he said.

The index, however, fell 0.13% on the week as uncertainty ahead of Prime Minister Ranil Wickremesinghe’s policy statement next month outlining the economic priorities of the newly-formed government weighed.

Foreign investors bought a net 2.93 million rupees worth of shares on Friday, but they have been net sellers of 3.05 billion rupees worth of equities so far this year.

Turnover stood at 1.02 billion rupees ($7.29 million), compared to this year’s daily average of 1.11 billion rupees.

Shares in Dialog Axiata PLC rose 0.94%, while DFCC Bank PLC gained 1.66%, and National Development Bank PLC climbed 1.47%.