Sri Lanka stocks close higher 0.05-pct: Lack of policy direction  

Nov 04, 2015 (LBO) – Sri Lankan stocks closed 0.05 percent higher on Wednesday following four consecutive days of losses with continued low investor interest and volumes traded, brokers said.

The Colombo benchmark All Share Price Index closed higher 3.16 points at 7,003.57 up 0.05 percent. S&P SL20 closed 2.13 points lower at 3,784.61 lower 0.06 percent.

“Low investor activity continued on lack of direction pending the budget and PM’s special statement in Parliament tomorrow on medium term economic framework of the present Government,” Lanka Securities said.

Turnover was 547 million rupees, up from 391 million on Tuesday with 71 stocks closing positive against 70 negative.

The main index showed gains in John Keells Holding closing at 179.00 rupees, up 1.90 rupees and Dialog Axaita closing at 11.40 rupees, up 0.30 rupees.

All share index plunge from 7,000 mark in the opening hours but managed to close higher along with the small improvement in investor activity.

Foreign investors closed session on selling side with a net foreign outflow of 64 million rupees and foreign participation was 25 percent.

Net foreign outflows were seen in Commercial Bank 79 million rupees, Access Engineering 45 million rupees, Ceylon Grain Elevators 10 million rupees while net foreign inflow was mainly seen in Royal Ceramic 20 million rupees.