Sri Lanka stocks ends at 2-month high on telecom, inflows

(Reuters) - The Sri Lankan share index ended at its two-month high on Friday ahead of a long weekend, helped by foreign inflows and telecom shares.

The main stock index gained 0.28 percent, or 17.29 points, to 6,092.34, its highest close since Feb. 11.

Many investors were in a holiday mood as the stock and currency markets will be closed for three days next week including Monday and Tuesday due to the Sinhala-Tamil new year, followed by Good Friday next week.

The day's turnover was 540.6 million rupees ($4.14 million), less than this year's daily average of 984 million rupees.

The bourse saw net foreign inflows of 182.8 million rupees, though foreigners have sold a net 8.32 billion rupees worth of shares so far this year.

Top fixed-line phone operator Sri Lanka Telecom rose 3.45 percent to 48 rupees.

Analysts said the outlook is still positive due to prevailing lower interest rates.

Brokers say the $19.53 billion worth stock market is gradually attracting investors who are looking for higher returns as the deposit rates in banks and financial companies are not beyond 6-6.5 percent.

Analysts said foreign outflow would continue if Sri Lanka does not cooperate in an international probe conducted by the Office of United nations' High Commissioner for Human Rights on the country's alleged war crimes.

The island nation's foreign minister on Monday said the country would not cooperate with the inquiry. 

($1 = 130.6050 Sri Lanka Rupees) 

(Reporting by Shihar Aneez; Editing by Joyjeet Das)

Sri Lanka stocks close up 0.3-pct

Apr 11, 2014 (LBO) - Sri Lanka's stocks close up 0.28 percent higher with index heavy stocks gaining amid net foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 17.29 points higher at 6,092.34 up 0.28 percent. The S&P SL20 closed 1.92 points higher at 3,346.92, up 0.06 percent.

Turnover was 540.86 million rupees, up from 359.25 million rupees a day earlier with 96 stocks close positive against 61 negative.

John Keells Holdings closed flat at 238.00 rupees with two off market transactions of 75.27 million rupees contributing to 14 percent of the daily turnover.

All off market transactions contributed to 20 percent of the turnover.

JKH’s W0022 warrants also closed flat at 68.20 rupees and its W0023 warrants closed 1.80 rupees lower at 72.20 rupees.

Lanka IOC closed 1.90 rupees higher at 42.80 rupees attracting most number of trades during the day.

Foreign investors bought 228.57 million rupees worth shares while selling 45.75 million rupees worth shares.

SLT closed 1.60 rupees higher at 48.00 rupees, contributing most to the index gain.

Lion Brewery Ceylon closed 9.50 rupees higher at 399.50 rupees.

Commercial Bank closed 90 cents higher at 126.80 rupees and Commercial Leasing and Finance closed 10 cents higher at 4.00 rupees.

Asian Hotels and Properties closed 2.60 rupees lower at 64.20 rupees and Bukit Darah closed 9.90 rupees lower at 570.10 rupees.

Ceylon Tea Services closed 47.30 rupees lower at 652.10 rupees and Hayleys closed 7.50 rupees lower at 282.30 rupees.

Nestle Lanka closed 6.00 rupees lower at 1,994.00 rupees.