Shares climb on foreign buying, post 3rd week of gains

COLOMBO (Reuters) - Sri Lankan shares ended slightly firmer yesterday, boosted by foreign buying, and posted their third straight week of gains.
The Colombo stock index ended 0.09 percent firmer at 6,117.89. The bourse rose 0.6 percent during the week.

The day’s turnover was Rs.274 million (US$1.69 million), about a third of this year’s daily average of Rs.796.7 million.

“Investors are awaiting the national budget,” said Atchuthan Srirangan, assistant manager - research, First Capital Holdings Plc. The government is set to unveil its 2019 national budget in November.

Foreign investors bought a net Rs.29.4 million of shares yesterday, recording the first session of net foreign buying in nine. But they have been net sellers of Rs.4.3 billion worth of shares so far this year.

Shares of AIA Insurance Lanka Plc rose 4.8 percent, Sri Lanka Telecom Plc climbed 3.2 percent and Asiri Hospitals Plc closed 3.9 percent higher.