COLOMBO, Dec 26 (Reuters) - Sri Lankan stocks edged up on
Thursday, snapping three straight sessions of falls, but the
day's turnover slumped to a one-year low and share volume fell
to its lowest in four years as most investors stayed away from
The day's turnover was 114.9 million rupees ($878,400), its
lowest since Dec. 24, 2012 and less than a seventh of this
year's daily average of 831.7 million rupees.
The day's share volume slumped to its lowest since Nov. 26,
2009, which analysts attributed to the holiday mood with many
investors staying away from the bourse, while large
institutional funds were waiting for the new year to resume
The main stock index edged up 0.04 percent, or 2.56
points, to 5,848.49, ending a three-day losing streak. It had
hit a six-week low on Dec. 19.
A 1.4 percent gain in Ceylon Tobacco Company and a
2 percent rise in conglomerate Aitken Spence helped
the main index end in the green.
Foreign investors bought a net 54.1 million rupees worth of
shares on Thursday, bringing the net foreign inflow to 22.48
billion rupees so far this year.
Analysts expect the market to rally early in the new year as
the possibility of retail investors returning to risky assets is
increasing due to falling interest rates, with yields on
treasury bills dropping to their lowest since November 2011 at
last week's auction..
($1 = 130.8000 Sri Lanka rupees)
(Reporting by Shihar Aneez; Editing by Sunil Nair)
Keywords: MARKETS SRILANKA STOCKS/CLOSE
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