Sri Lankan shares hit more than 1-wk closing high; PABC boosts turnover

Dec 29, 2016 (Reuters) – Sri Lankan shares touched a more than one-week closing high on Thursday led by financials, with shares of Pan Asia Banking Corporation Plc accounting for 85 percent of the day’s turnover.

The Colombo stock index finished 0.28 percent higher at 6,245.71, moving away from its lowest close since April 6 hit on Tuesday.

Turnover stood at 720.9 million rupees ($4.82 million), less than the daily average of around 740 million rupees for this year.

Foreign investors bought a net 12.3 million rupees worth shares on Thursday, extending the year-to-date net foreign inflows into equities to 639.8 million rupees.

Pan Asia Banking gained 1.5 percent, while shares in Ceylinco Insurance Plc jumped 17.8 percent.