Stocks recover on foreign buying

07 Dec 2012 - {{hitsCtrl.values.hits}}

Sri Lankan stocks gained more than 1 percent yesterday to hit a two-week high, recovering from a three-month low, as foreign investors bought blue chips.

The Colombo Stock Exchange’s main index rose 1.2 percent, or 64.12 points to 5,387.33, its highest close since Nov. 26. “The market is upbeat on foreign buying in blue chips,” said a stock broker.

Foreign investors bought a net 120.2 million rupees worth of shares, extending the net foreign inflow this year to 36.42 billion rupees. The day’s turnover was 877.1 million rupees ($6.82 million) shy of this year’s daily average of 898.5 million rupees. The rupee closed weaker at 128.75/85 to the dollar compared with Wednesday’s close of 128.50/70 on importer dollar demand, dealers said.

(Source : REUTERS)

Stock

Stocks recover on foreign buying

Most Popular Articles

Browns Investments completes acquisition of shares in Lipton Teas and Infusions Tanzania Limited

Auction yields slump for third consecutive week

ASPI crosses the 15,000 mark for the first time

November merchandise exports slide 5.6% YoY while services sector expands 21%

LATES'T NEWS

Trains now...

Unusual activities reported in areas of elephant-human conflicts: Veterinarians’ Association

NPP MP Dr. Kaushalya Ariyarathne lodges CID complaint

End of a Golden Era...

Ancient tunnel near Kotte Ananda Sastralaya in spotlight again