Shares edge up, led by banks

Reuters: Shares rose on Tuesday as investors picked up banking and diversified stocks, but foreign investors turned net sellers after two days of buying.

The Colombo stock index .CSE ended 0.32% firmer at 6,705.45, with foreign investors selling a net Rs. 120.7 million worth of shares. They have bought Rs. 20.7 billion worth equities so far this year.

Turnover was Rs. 1.01 billion ($ 6.59 million), more than this year’s daily average of Rs. 909.3 million.

“The market is slightly positive, but there was a dampener after a buying spree in top counters,” said Prashan Fernando, CEO at Acuity Stockbrokers.

Shares of Hemas Holdings Plc HHL.CM rose 3.2%, while the country’s biggest listed lender, Commercial Bank of Ceylon Plc COMB.CM, ended 1.4% higher.

Sri Lanka Telecom Plc SLTL.CM climbed 2.2%, while Ceylon Tobacco Company Plc CTC.CM rose 0.9%.