Shares edge up on renewed foreign interest

Friday, 29 July 2016 00:05 - - {{hitsCtrl.values.hits}}

Reuters: Shares ended slightly firmer on Thursday, snapping three sessions of losses as investors picked up diversified and manufacturing shares.

The benchmark Colombo stock index ended up 0.15%, 9.73 points, at 6,392.15.

“There was institutional buying today, and the good thing is that we saw renewed interest from foreigners as well,” said Yohan Samarakkody, Head of Research, SC Securities Ltd.

Prime Minister Ranil Wickremesinghe is expected to announce the country’s economic policy next month.

Turnover stood at Rs. 991.5 million ($6.81 million), its highest since 14 July and well above this year’s daily average of around Rs. 727.4 million.

Overseas investors were net sellers of Rs. 4.78 billion worth of shares so far this year, but they were net buyers of Rs. 17.4 million worth of shares on Thursday.

Shares in CT Holdings Plc jumped 5.74% while Distilleries Company of Sri Lanka Plc rose 0.99%, pushing the overall index up.