COLOMBO, Sept 13 (Reuters) - Sri Lankan stocks edged up on
Friday, rising for a fourth straight session to hit a near
two-week high, led by hotel and telecom shares, but brokers said
investors may wait for some direction on interest rates after a
$750 million bond sale by a state-owned bank.
The main share index edged up 0.09 percent, or 4.96
points, to close at 5,749.46, its highest since Sept. 3.
Shares in Dialog Axiata PLC rose 1.25 percent to
8.10 rupees a share, while Aitken Spence Hotel Holdings PLC gained more than 3 percent to 67.50 rupees.
National Savings Bank's (NSB) 5-year bond was priced to
yield 8.875 percent, tighter than the initial talk of 9.25
percent. Dealers said it was still expensive compared with other
Sri Lankan debt paper.
'Everybody is looking at interest rates more than anything
else, because the NSB bond price is very expensive,' a
stockbroker said on condition of anonymity.
Foreign investors were net buyers of 262.2 million rupees
($1.98 million) worth of shares on Friday, extending
year-to-date net foreign inflows to 19.37 billion rupees.
Friday's turnover was 979.6 million rupees, more than this
year's daily average of about 883 million rupees.
($1 = 132.3250 Sri Lanka rupees)
(Reporting by Shihar Aneez and Ranga Sirilal; Editing by
Keywords: MARKETS SRILANKA/INDEX
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