Bourse, rupee up

Friday, 26 October 2012 02:25 - - {{hitsCtrl.values.hits}}

Reuters: Stocks edged up on Thursday, led by top fixed line operator Sri Lanka Telecom in thin trade, while inflows from remittances boosted the rupee, dealers said.

The Colombo Stock Exchange’s main index rose 0.60 per cent or 33.47 points to 5,576.72.

“The Bourse is up mostly on retail buying while some institutional buying was evident,” said one broker.

Analysts said that many investors were waiting for direction from the annual Budget, scheduled for 8 November.

The day’s turnover was Rs. 271.9 million ($ 2.09 million), less than a third of this year’s daily average of Rs. 931 million.

Net foreign inflows were Rs. 58 million, taking the total so far this year to Rs. 33.84 billion.

The rupee ended firmer at 129.75/95 to the dollar compared to Wednesday’s close of 130.05/10, due to dollar inflows from remittances, dealers said.