Oct 12, 2015 (LBO) – Sri Lankan stocks closed higher on Monday with gains in the telecom sector stocks as lack of policy direction made the market volatile, brokers said.

The Colombo benchmark All Share Price Index closed higher 3.94 points at 7,100.00, up 0.06 percent. S&P SL20 closed 1.04 points lower at 3,818.76 lower 0.03 percent.

Turnover was 988 million rupees with 68 stocks closing positive against 80 negative.

Gains were seen in Dialog Axiata closing at 11.20 rupees, up 0.10 rupees with over 1.8 million shares traded off the floor at 11.30 rupees. Sri Lanka Telecom closed at 48.10 rupees, up 1.00 rupees.

Active trading was seen at Janashakthi Insurance with the stock closing at 20.60 rupees, up 0.60 rupees with over 1.1 million shares traded. Janashakthi Insurance said on Friday it was purchasing a 100 percent stake of AIA General Insurance Lanka, a fully owned subsidiary of AIA Insurance Lanka for 3.2 billion rupees. Lanka IOC closed at 43.60 rupees, up 1.00 rupees with over 1.3 million shares traded. The foreign investors were net buyers today recording a net foreign inflow of  246 million rupees.