Bourse edges up on foreign buying in JKH

Tuesday, 6 November 2012 00:23 - - {{hitsCtrl.values.hits}}

Reuters: Stocks firmed marginally on Monday on thin volumes, but many investors stayed away, awaiting the Budget and corporate earnings.

The Colombo Stock Exchange’s main index rose 0.13%, or 6.99 points, to end at 5,539.31.

Shares in market heavyweight John Keells Holdings PLC rose 0.91% to Rs. 211.60 on foreign buying.

Mobile phone operator Dialog Axiata, which posted a 273% rise in net profit for the September quarter, rose 2.47% to Rs. 8.30.

“Investors are awaiting for direction from the Budget, which will show where the economy is heading,” said a stockbroker who declined to be identified.

The Government presents the 2013 Budget on Thursday, while several companies release quarterly results from this week.

Turnover was Rs. 161.2 million ($ 1.24 million), less than a fifth of this year’s daily average of Rs. 917 million. Foreigners bought a net Rs. 47 million worth of shares, extending the net foreign inflow this year to 34.5 billion.

The rupee weakened to 130.43/50 to the dollar from Friday’s close of 130.30/35 on importer dollar demand, dealers said.