Sri Lankan Shares Gain Marginally Led by Local Buying

25th February 2010, www.sundaytimes.lk

Sri Lankan shares closed marginally firmer on Thursday as a result of local buying mostly on post-war economic optimism and profit taking, but foreign investors resorted to selling rather than buying , ahead of April polls,analysts said.

"There were retail and institutional buying as investors had no option, under the present economic and political situation, a stock broker said. Foreigners were net sellers in most of the trading sessions so far this year he added.

The All Share Price Index closed at 3,782.25, up by 6.74 points, while the Milanka index of more liquid shares gained 15.29 points to close at 4,347.27. Turnover was Rs. 856 million , and the share volume was 24.4 million according to stock exchange provisional figures.

NDB has made the highest contribution to the turnover with Rs. 113 million. It closed flat at Rs.220.00 , a stock broker said . Walker&Greg closed at Rs. 247.50 , up by Rs.14.75 contributing the second highest amount of Rs.73.4 million to the turnover . 462, 100 NDB shares crossed off the board at Rs.220.00 he said.