Sri Lankan shares end firmer; earnings lift sentiment

Reuters: Sri Lankan shares ended slightly firmer on Thursday, further moving away from a more than one-week closing low hit earlier in the week, as better-than-expected corporate earnings boosted sentiment, although concerns over rising rates capped gains.

The Colombo stock index ended 0.14 percent firmer at 6,138.14. It fell 0.35 percent on week.

The bourse will remain closed on Friday for a Hindu religious holiday.

"December-quarter earnings helped boost sentiment. Some companies have reported better-than-expected earnings," said Prashan Fernando, CEO at Acuity Stockbrokers.

Commercial Bank of Ceylon Plc, which posted a 25.8 percent increase in profit for the quarter ended Dec. 31, rose 0.63 percent.

Shares in Lion Brewery Plc jumped 4.9 percent, while Carson Cumberbatch Plc climbed 4.8 percent and Hatton National Bank Plc rose 1.7 percent.

Turnover stood at 356.4 million rupees ($2.36 million), well below this year's daily average of 605.6 million rupees.

Foreign investors net bought 79.5 million rupees worth of equities on Thursday, but they have net sold 135.5 million rupees worth shares so far this year.

Yields on treasury bills have risen to more than four-year highs, while the central bank has kept key policy rates on hold. 

($1 = 151.2500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju Dwarakanath)

Sri Lankan shares edge up as investors pick up bank stocks

Reuters: Sri Lankan shares rose slightly on Wednesday from a more than one-week closing low hit in the previous session as investors bought banking shares, but concerns over rising interest rates weighed on sentiment.

Yields on treasury bills rose 3-10 basis points at a weekly auction on Tuesday. They have risen 44-73 basis points since Oct. 7 to more than four-year highs, while the central bank has kept key policy rates on hold.

The Colombo stock index ended 0.04 percent firmer at 6,129.69, snapping a four-session losing streak and edging up from its lowest close since Feb. 9 hit on Tuesday.

"Some crossings in blue chips boosted the turnover. Other than that, there was nothing and the market was very dull as investors are still on the sidelines," said Dimantha Mathew, head of research at First Capital Equities (Pvt) Ltd.

"Selling pressure is there, but there are no buyers."

Shares in Lanka ORIX Leasing Company Plc rose 4.18 percent, while Nestle Lanka Plc, which posted a 42 percent rise in profit for the quarter ended Dec. 31, climbed 2.02 percent.

Turnover stood at 482.7 million rupees ($3.19 million), well below this year's daily average of 612.5 million rupees.

Foreign investors net bought 37.8 million rupees worth of equities on Wednesday, but they have net sold 215 million rupees worth shares so far this year.

($1 = 151.1000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju Dwarakanath)