Wednesday 11 February 2015

Sri Lanka shares up for 5th session; financials lead

Feb 11 (Reuters) - Sri Lankan shares extended their winning streak to five sessions on Wednesday to close at near two-week highs, led by financial stocks, brokers said.

The main stock index ended up 0.75 percent, or 54.71 points, at 7,359.41, its highest close since Jan. 29.

"The market looks healthy. Blue-chips started moving up and the others followed. Investors see some kind of positive rally," said Reshan Kurukulasuriya, chief operating officer of Richard Pieris Securities (Pvt) Ltd.

Foreign investors bought a net 146.5 million rupees ($1.1 million) worth of shares on Wednesday, extending net foreign inflows so far this year to 1.55 billion rupees. The bourse had net foreign inflows of 22.07 billion rupees in 2014.

Wednesday's turnover was 2.31 billion rupees, well above this year's daily average of 1.43 billion rupees.

Ceylinco Insurance Plc rose 8.71 percent, while Commercial Bank of Ceylon, the country's biggest listed lender, rose 2.3 percent.

Leading fixed-line telephone operator Sri Lanka Telecom Plc rose 3.73 percent. 

($1 = 132.8000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)

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