Reuters latest report on Sri Lankan economy..
S.Lanka bourse up on IMF loan hopes, cbank buys dlrs
http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSCOL40659320090615?rpc=401&
* High expectations on IMF loan moves market-brokers
* Bourse at new 9-mo high with significant turnover
* Cenbank mops up $267 million from mkt after war
COLOMBO, June 15 (Reuters) - Sri Lankan shares .CSE rose on Monday to a new nine-month high led by foreign buying of bluechips on an expected IMF loan approval and continued local purchases of plantation and hotel shares.
The rupee -LKR=- closed flat as a state bank bought dollars.
The Colombo All-Share Price Index rose 1.4 percent or 31.50 points to 2286.12, its highest close since Sept. 16. 'It was a very active market,' said Shivantha Meepage, a research analyst at Acuity Stockbrokers. 'There is high hope of Sri Lanka getting the IMF loan soon. Foreigners bought bluechips, while retail investors bought plantation and hotel shares.'
The bourse has risen around 20 percent since the government declared victory in the 25-year war and is up 52.1 percent so far this year on post-war optimism. |
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