Feb 13 (Reuters) - Sri Lankan 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 percent in early trade, ended up 0.06 percent at 7,335.51, hovering near its highest close since Jan. 29 hit on Feb. 11.
"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 percent, while Commercial Leasing & Finance Plc advanced 4.65 percent.
John Keells Holdings Plc fell 1.06 percent and Dialog Axiata Plc lost 1.59 percent.
Foreign investors sold a net 42.33 million rupees ($318,750) worth of shares on Friday, but they have been net buyers of 1.54 billion rupees worth of shares so far this year. The bourse had net foreign inflows of 22.07 billion rupees in 2014.
Friday's turnover was 945.9 million rupees, much less than this year's daily average of 1.5 billion rupees.
The main stock index, which fell 0.18 percent in early trade, ended up 0.06 percent at 7,335.51, hovering near its highest close since Jan. 29 hit on Feb. 11.
"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 percent, while Commercial Leasing & Finance Plc advanced 4.65 percent.
John Keells Holdings Plc fell 1.06 percent and Dialog Axiata Plc lost 1.59 percent.
Foreign investors sold a net 42.33 million rupees ($318,750) worth of shares on Friday, but they have been net buyers of 1.54 billion rupees worth of shares so far this year. The bourse had net foreign inflows of 22.07 billion rupees in 2014.
Friday's turnover was 945.9 million rupees, much less than this year's daily average of 1.5 billion rupees.
($1 = 132.8000 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)
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