Bourse rebounds

Thursday, 8 May 2014 00:00 -     - {{hitsCtrl.values.hits}}

REUTERS: Stocks rose on Wednesday to hit a more than three- month closing high, led by shares of large cap companies traded in high volumes, while foreign inflows and a lower interest rate regime helped boost sentiment, dealers said. The main stock index rose 0.43%, or 26.47 points, to 6,252.60, its highest close since 24 January. The day’s turnover was Rs. 1 billion ($ 7.66 million), more than this year’s daily average of Rs. 969.3 million. Offshore investors were net buyers of Rs. 270.6 million worth of stocks on Wednesday, but they have been net sellers worth Rs. 6.94 billion so far this year. Shares in large cap Bukit Darah PLC rose 1.47% to Rs. 612.8, while Ceylon Tobacco Company PLC rose 1.51% to Rs. 1,099.4. The market gained 4.28% in April as some retail investors started buying risky assets across the board as the Central Bank kept policy rates steady at multi-year lows for the third straight month.