Oct 14 (Reuters) - Sri Lankan stocks recovered on Tuesday from a near four-week closing low hit in the previous session, led by shares of financial companies and stockbrokers expect the gaining trend to continue, interspersed by profit-taking from time to time.
The main stock index gained 0.3 percent, or 21.25 points, at 7,205.47, recovering from its lowest close since Sept. 17. It hit a near 3-1/2 year closing high on Oct. 3.
"The market is still on a gaining momentum due to lower interest rates, but we expect slight volatility due to profit taking from time to time," a stockbroker said on condition of anonymity.
The index fell more than 2 percent on Monday, led by bank shares despite foreign buying.
DFCC Bank Plc gained 2.46 percent at 220.70 rupees, while Lanka Orix Leasing Company Plc rose 0.94 percent to 86 rupees.
The day's turnover was 1.6 billion rupees ($12.25 million), more than this year's daily average of more than 1.36 billion rupees.
Foreign investors sold 112.1 million rupees worth of shares on Tuesday. But the bourse has recorded net foreign inflow of 9.34 billion rupees year-to-date, exchange data showed.
($1 = 130.6000 Sri Lankan rupee)
The main stock index gained 0.3 percent, or 21.25 points, at 7,205.47, recovering from its lowest close since Sept. 17. It hit a near 3-1/2 year closing high on Oct. 3.
"The market is still on a gaining momentum due to lower interest rates, but we expect slight volatility due to profit taking from time to time," a stockbroker said on condition of anonymity.
The index fell more than 2 percent on Monday, led by bank shares despite foreign buying.
DFCC Bank Plc gained 2.46 percent at 220.70 rupees, while Lanka Orix Leasing Company Plc rose 0.94 percent to 86 rupees.
The day's turnover was 1.6 billion rupees ($12.25 million), more than this year's daily average of more than 1.36 billion rupees.
Foreign investors sold 112.1 million rupees worth of shares on Tuesday. But the bourse has recorded net foreign inflow of 9.34 billion rupees year-to-date, exchange data showed.
($1 = 130.6000 Sri Lankan rupee)
(Reporting by Shihar Aneez; Editing by Anupama Dwivedi)
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