Saturday, 14 February 2015 01:36
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Reuters: Stocks ended steady on Friday as gains led by banks offset losses in telecom shares, though investors expect the index to continue its upward trend due to better earnings.
The main stock index, which fell 0.18% in early trade, ended up 0.06% at 7,335.51, hovering near its highest close since 29 January hit on 11 February.
“There won’t be big gains, but the slight upward trend will continue,” said a stockbroker, adding that better quarterly earnings have lifted sentiment.
Shares in Hemas Holdings Plc rose 2.93%, while Commercial Leasing & Finance Plc advanced 4.65%.
John Keells Holdings Plc fell 1.06% and Dialog Axiata Plc lost 1.59%.
Foreign investors sold a net Rs. 42.33 million ($318,750) worth of shares on Friday, but they have been net buyers of Rs. 1.54 billion worth of shares so far this year. The Bourse had net foreign inflows of Rs. 22.07 billion in 2014.
Friday’s turnover was Rs. 945.9 million, much less than this year’s daily average of Rs. 1.5 billion.
