Feb 19 (Reuters) - Sri Lankan stocks edged up on Thursday from their lowest in more than a week, led by Dialog Axiata Plc despite foreign investors exiting some risky assets.
The main stock index, rose 0.54 percent or 39.33 points to 7,306.17, recovering from its lowest close since Feb. 9 hit on Wednesday.
Turnover was at 1.84 billion rupees ($13.85 million), more than this year's daily average of 1.46 billion rupees.
"The market will move sideways until investors 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 Dialog Axiata Plc rose 2.5 percent a day after the company posted a 11.7 percent rise in fourth-quarter net profit.
Foreign investors sold a net 200.7 million rupees worth of shares on Thursday, but they have been net buyers of 1.32 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, rose 0.54 percent or 39.33 points to 7,306.17, recovering from its lowest close since Feb. 9 hit on Wednesday.
Turnover was at 1.84 billion rupees ($13.85 million), more than this year's daily average of 1.46 billion rupees.
"The market will move sideways until investors 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 Dialog Axiata Plc rose 2.5 percent a day after the company posted a 11.7 percent rise in fourth-quarter net profit.
Foreign investors sold a net 200.7 million rupees worth of shares on Thursday, but they have been net buyers of 1.32 billion rupees worth of shares so far this year. The bourse saw net foreign inflows of 22.07 billion rupees in 2014.
($1 = 132.8500 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair)
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