Bourse up for fifth day; turnover tops Rs. 1 b

Tuesday, 6 May 2014 00:01 - - {{hitsCtrl.values.hits}}

Reuters: Shares edged up on Monday, rising for the fifth straight session to hit their highest in more than three months on foreign inflows as a lower interest rate regime helped boost sentiment. The country’s main stock index edged up 0.02%, or 0.99 points, to 6,249.43, its highest close since 29 January. It has gained 1.32% in the last five sessions. The market gained 4.28% in April as some retail investors started buying risky assets given low interest rates, with buying seen across the board. The Central Bank on 22 April kept policy rates steady at multi-year lows. The day’s turnover was Rs. 1.25 billion ($ 9.57 million), more than this year’s daily average of Rs. 964 million. Offshore investors were net buyers of Rs. 153.2 million worth of stocks on Monday, but they have been net sellers of Rs. 7.25 billion so far this year. Conglomerate Aitken Spence PLC rose 3.42% to Rs. 102.80 a share, while Dialog Axiata PLC rose 1.08% to Rs. 9.40.

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