Stock market sustains gain

Friday, 15 November 2013 00:21 - - {{hitsCtrl.values.hits}}

Reuters: Stocks rose for a second straight session on Thursday, led by large caps like Nestlé Lanka PLC and foreign inflows, while most investors were on the sidelines due to concerns over poor earnings. The main index closed up 0.22%, or 13.01 points, at 5,829.05. Foreign investors were net buyers of Rs. 36.6 million of shares on Thursday, extending the year-to-date net foreign inflow to Rs. 22.5 billion worth. Shares in Nestlé Lanka rose 1.19% to Rs. 1,973.30 in low volume trading, while conglomerate John Keells Holdings fell 0.10% to Rs. 208.40. Stockbrokers said investors were worried about September-quarter earnings. Many listed firms are expected to release their quarterly earnings this month. The day’s turnover was at Rs. 525.7 million ($ 4.01 million), less than this year’s daily average of Rs. 860.9 million.

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