Bourse up, hover near 2-month closing high

Wednesday, 29 July 2015 00:29 - - {{hitsCtrl.values.hits}}

(Reuters): Sri Lankan shares rose on Tuesday, hovering near their two-month closing high hit on Friday, as expectations of strong corporate earnings and political stability after the parliamentary polls next month lifted investor sentiment.

The main stock index ended firmer 0.19%, or 13.84 points, at 7,261.07. On Friday, it had closed at its highest since 25 May.

Gains were led by large caps such as John Keells Holdings Plc amid block deals. John Keells rose 0.67%, Ceylon Tobacco Company Plc 1.72% and Distilleries Company of Sri Lanka Plc gained 0.35%.

Turnover was Rs. 1.1 billion ($ 8.23 million), just above this year’s daily average of Rs. 1.07 billion.

Foreign investors were net sellers of Rs. 212.8 million worth of shares, extending the net foreign outflow so far this year to Rs. 549.3 million.

Analysts expect local companies to post strong results for the April-June quarter.

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.