Reuters: Sri Lankan shares edged up on Tuesday after five straight sessions of falls to a more than four-month closing low in the previous session, led by large caps on market talks that the government would lower corporate taxes in the coming budget.
The main stock index ended 0.17 percent, or 11.97 points, firmer at 6,977.95, after posting its lowest close since July 9 on Monday.
"It is too early to say whether the market will continue its upward trend," said Dimantha Mathew, research manager at First Capital Equities (Pvt) Ltd.
Brokers said investors are also waiting for policy direction from the annual budget scheduled later this week.
Finance Minister Ravi Karunanayake will present the 2016 budget in parliament on Friday. He has said the budget will be "capital oriented".
Block deals pushed turnover to 1.47 billion rupees ($10.34 million) on Tuesday, the highest since Nov. 6, and well above this year's daily average of 1.1 billion rupees.
Shares of Hemas Holdings Plc rose 3.54 percent, Lanka ORIX Leasing Company Plc gained 3.83 percent and Commercial Bank of Ceylon Plc rose 1.19 percent.
Conglomerate John Keells Holdings Plc gained 0.33 percent.
Foreign investors sold a net 89.8 million rupees worth of shares on Tuesday, extending the year-to-date net foreign outflow to 3.63 billion rupees worth of equities.
The main stock index ended 0.17 percent, or 11.97 points, firmer at 6,977.95, after posting its lowest close since July 9 on Monday.
"It is too early to say whether the market will continue its upward trend," said Dimantha Mathew, research manager at First Capital Equities (Pvt) Ltd.
Brokers said investors are also waiting for policy direction from the annual budget scheduled later this week.
Finance Minister Ravi Karunanayake will present the 2016 budget in parliament on Friday. He has said the budget will be "capital oriented".
Block deals pushed turnover to 1.47 billion rupees ($10.34 million) on Tuesday, the highest since Nov. 6, and well above this year's daily average of 1.1 billion rupees.
Shares of Hemas Holdings Plc rose 3.54 percent, Lanka ORIX Leasing Company Plc gained 3.83 percent and Commercial Bank of Ceylon Plc rose 1.19 percent.
Conglomerate John Keells Holdings Plc gained 0.33 percent.
Foreign investors sold a net 89.8 million rupees worth of shares on Tuesday, extending the year-to-date net foreign outflow to 3.63 billion rupees worth of equities.
($1 = 142.2000 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)
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