Bourse recover from over 1-week low; Dialog Axiata leads

Friday, 20 February 2015 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Stocks edged up on Thursday from their lowest in more than a week, led by Dialog Axiata Plc despite foreign investors exiting some risky assets. The main stock index rose 0.54% or 39.33 points to 7,306.17, recovering from its lowest close since 9 February hit on Wednesday. Turnover was at Rs. 1.84 billion ($13.85 million), more than this year’s daily average of Rs. 1.46 billion. “The market will move sideways until investors see political stability,” a stockbroker said on condition of anonymity. The Parliamentary election is expected to be held after 23 April and the new President Maithripala Sirisena’s coalition Government is still uncertain if it would contest under the same coalition or separately. Shares in Dialog Axiata Plc rose 2.5% a day after the company posted an 11.7% rise in fourth-quarter net profit. Foreign investors sold a net Rs. 200.7 million worth of shares on Thursday, but they have been net buyers of Rs. 1.32 billion worth of shares so far this year. The Bourse saw net foreign inflows of Rs. 22.07 billion in 2014.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.