Shares close slightly higher in dull trade

Tuesday, 31 January 2017 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Sri Lankan stocks ended marginally higher on Monday in lacklustre trading as bargain-hunting investors picked up battered shares, but political instability and a rise in interest rates capped gains, brokers said.

The Colombo stock index ended 0.1% higher at 6,140.54. It hit a near 10-month closing low on Wednesday, and lost 0.5% last week, its second straight weekly decline.

Biggest listed lender Commercial bank of Ceylon Plc rose 2.2% while Colombo Cold Stores Plc rose 1.3%. “We saw some bargain-hunting, but there were no big trades,” said Dimantha Mathew, Head of Research at First Capital Equities Ltd.

Foreign investors net bought Rs. 5.95 million worth of equities on Monday, but they have net sold Rs. 1.63 billion worth of shares so far this year.

Turnover stood at Rs. 179.3 million, its lowest since 18 January.

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.