CSE climbs on foreign buying, post 3rd week of gains

Reuters: Shares ended slightly firmer on Friday, boosted by foreign buying, and posted their third straight week of gains.

The Colombo stock index ended 0.09% firmer at 6,117.89. The Bourse rose 0.6% during the week.

The day’s turnover was Rs. 274 million ($1.69 million), about a third of this year’s daily average of Rs. 796.7 million.

“Investors are awaiting the National Budget,” said First Capital Holdings PLC Assistant Manager – Research Atchuthan Srirangan.

The Government is set to unveil its 2019 National Budget in November.

Foreign investors bought a net Rs. 29.4 million of shares on Friday, recording the first session of net foreign buying in nine. But they have been net sellers of Rs. 4.3 billion worth of shares so far this year.

Shares of AIA Insurance Lanka Plc rose 4.8%, Sri Lanka Telecom Plc climbed 3.2% and Asiri Hospitals Plc closed 3.9% higher.