COLOMBO Jan 2 (Reuters)) - Sri Lankan shares marked their six-week closing high on Friday, led by top lender Commercial Bank of Ceylon, amid low turnover as investors stayed on the sidelines due to political uncertainty before the presidential election next week.
The main stock index closed 0.68 percent, or 49.44 points, higher at 7,348.39, its highest since Nov. 21.
"Market is seeing more positive direction. Some bargain hunters took opportunities ahead of the election," said Reshan Kurukulasuriya, chief operating officer of Richard Pieris Securities (Pvt) Ltd.
The central bank said the economy would grow annually at 8 percent in the six years between 2015 and 2020 after achieving an estimated growth of 7.8 percent in 2014.
The gain in the stock index was boosted by a 2.28 percent rise in Commercial Bank of Ceylon and a 10.41 percent jump in Ceylon Brewery Plc.
Turnover was 742.9 million rupees ($5.66 million), half of last year's daily average of 1.42 billion rupees, stock exchange data showed.
Foreign investors were net sellers of 10.8 million rupees worth of shares, data showed. They bought a net 22.07 billion rupees worth stocks last year, a little less than the previous year's 22.88 billion inflow.
The stock index gained 23.4 percent in 2014 after rising 4.8 percent in the previous year. It has lost 3.5 percent since Nov. 19 when President Mahinda Rajapaksa announced his decision to hold a snap presidential election on Jan. 9.
Analysts said uncertainties in domestic politics have hurt sentiment. Twenty six lawmakers have quit the ruling United People's Freedom Alliance since the election announcement, including former health minister Mithripala Sirisena, who is challenging Rajapaksa's bid for a third term. Two opposition legislators have joined the ruling party.
The main stock index closed 0.68 percent, or 49.44 points, higher at 7,348.39, its highest since Nov. 21.
"Market is seeing more positive direction. Some bargain hunters took opportunities ahead of the election," said Reshan Kurukulasuriya, chief operating officer of Richard Pieris Securities (Pvt) Ltd.
The central bank said the economy would grow annually at 8 percent in the six years between 2015 and 2020 after achieving an estimated growth of 7.8 percent in 2014.
The gain in the stock index was boosted by a 2.28 percent rise in Commercial Bank of Ceylon and a 10.41 percent jump in Ceylon Brewery Plc.
Turnover was 742.9 million rupees ($5.66 million), half of last year's daily average of 1.42 billion rupees, stock exchange data showed.
Foreign investors were net sellers of 10.8 million rupees worth of shares, data showed. They bought a net 22.07 billion rupees worth stocks last year, a little less than the previous year's 22.88 billion inflow.
The stock index gained 23.4 percent in 2014 after rising 4.8 percent in the previous year. It has lost 3.5 percent since Nov. 19 when President Mahinda Rajapaksa announced his decision to hold a snap presidential election on Jan. 9.
Analysts said uncertainties in domestic politics have hurt sentiment. Twenty six lawmakers have quit the ruling United People's Freedom Alliance since the election announcement, including former health minister Mithripala Sirisena, who is challenging Rajapaksa's bid for a third term. Two opposition legislators have joined the ruling party.
($1 = 131.3000 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)
