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Sri Lankan stocks recover

Sri Lankan stocks recovered on Tuesday from the previous session's near-four-week closing low, a day after President Mahinda Rajapaksa won the final 2015 budget vote, contrary to speculation that he might lose it. Analysts expect the market to be volatile due to political uncertainty before a snap presidential poll on January 8. Rajapaksa, who is facing a split in his ruling coalition ahead of the poll, won the final vote on the 2015 budget with a strong majority.

The main stock index, which rose 1.32 percent intra-day, ended 0.06 percent up at 7,239.36, recovering from its lowest close since October 28, hit on Monday. Stockbrokers said the market was volatile and late selling saw early gains being surrendered as investors were cautious due to the prevailing political uncertainty ahead of the elections.

Tuesday's turnover was 1.08 billion rupees ($8.24 million), exchange data showed, less than this year's daily average of 1.44 billion rupees. Foreign investors were net buyers of 5.2 million rupees, extending foreign buying for this year to 19.4 billion rupees, exchange data showed.

Copyright Reuters, 2014


Index Closing Chg%
Arrow DJIA 18,135.72 0.21
Arrow Nasdaq 4,982.81 0.32
Arrow S&P 2,101.04 0.12
Arrow FTSE 6,961.14 0.6
Arrow DAX 11,504.01 1.00
Arrow CAC-40 4,963.51 0.94
Arrow Nikkei 18,751.84 0.26
Arrow H.Seng 24,193.04 1.11
Arrow Sensex 29,448.95 0.23

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln