Sri Lankan shares hit over 10-wk closing high on banks

Reuters: Sri Lankan shares rose about 1 percent on Thursday in heavy trade and posted their highest close in more than 10 weeks, with banks leading the gains, brokers said.

Turnover was 1.43 billion rupees ($9.30 million), well above this year’s daily average of 938.4 million rupees.

The Colombo stock index rose for a third straight session and ended 0.94 percent firmer at 6,621.56, its highest close since July 31.

“Interest on banks was high. Mid-cap and plantation shares were also on demand,” said Softlogic Stockbrokers deputy CEO Hussain Gani.

Shares of Ceylon Cold Stores Plc ended 5.9 percent firmer, Hatton National Bank Plc rose 2.7 percent, DFCC Bank Plc ended up 6.1 percent and Sri Lanka Telecom Plc climbed 5.7 percent.

Foreign investors were net sellers of shares worth 274 million rupees on Thursday, after having bought 3.7 billion rupees of equities in the 16 sessions through Tuesday. They have net bought 20.2 billion rupees worth of shares so far this year. 

($1 = 153.7000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Use Submit A Tip section of CSE to report market manipulations

LBO - Colombo Stock Exchange has included a separate section inside their official website, allowing anyone to report market manipulations via online.

The Colombo Stock Exchange said this ‘submit a tip’ section intends to invite information and tips related to market manipulation and violations, enhancing market surveillance.

Individuals have the option to submit a tip without providing their personal details. It also has a feature to attach a file to prove the claim.

The CSE said it will treat all tips and information received under this section as confidential and will not disclose such information to any third-party unless required by any applicable statute, regulation or by the Order of a court of law.

The CSE also requests the individuals to maintain the confidentiality of the information submitted and refrain from sharing the information provided with them.

Upon receiving a legitimate tip off, the CSE market surveillance team is responsible of conducting an appropriate examination.