Feb 20 (Reuters) - Sri Lankan stocks edged up on Friday to hit one-week highs, led by large-cap shares such as Nestle Lanka Plc despite foreign investors exiting some risky assets.
The main stock index gained 0.12 percent, or 8.74 points, to 7,314.91, its highest close since Feb. 13.
Turnover was at 1.1 billion rupees ($8.28 million), less than this year's daily average of 1.45 billion rupees.
"The market will remain stable and investors are awaiting to see a clear direction who will win the next election and they are awaiting to see political stability," a stockbroker said on condition of anonymity.
The parliamentary election is expected to be held after April 23 and the new President Maithripala Sirisena's coalition government is still uncertain if it would contest under the same coalition or separately.
Shares in Nestle Lanka Plc, which on Thursday posted an 11.7 percent increase in its total comprehensive income for the December quarter, rose 2.32 percent.
Foreign investors were net sellers for the third straight session on Friday. They sold net 57.3 million rupees worth of shares on Friday extending the net foreign outflow for the last three straight sessions to 315.1 million rupees.
But they have been net buyers of 1.26 billion rupees worth of shares so far this year. The bourse saw net foreign inflows of 22.07 billion rupees in 2014.
The main stock index gained 0.12 percent, or 8.74 points, to 7,314.91, its highest close since Feb. 13.
Turnover was at 1.1 billion rupees ($8.28 million), less than this year's daily average of 1.45 billion rupees.
"The market will remain stable and investors are awaiting to see a clear direction who will win the next election and they are awaiting to see political stability," a stockbroker said on condition of anonymity.
The parliamentary election is expected to be held after April 23 and the new President Maithripala Sirisena's coalition government is still uncertain if it would contest under the same coalition or separately.
Shares in Nestle Lanka Plc, which on Thursday posted an 11.7 percent increase in its total comprehensive income for the December quarter, rose 2.32 percent.
Foreign investors were net sellers for the third straight session on Friday. They sold net 57.3 million rupees worth of shares on Friday extending the net foreign outflow for the last three straight sessions to 315.1 million rupees.
But they have been net buyers of 1.26 billion rupees worth of shares so far this year. The bourse saw net foreign inflows of 22.07 billion rupees in 2014.
($1 = 132.9000 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Anand Basu)
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