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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 16,102.38 1.66
Arrow Nasdaq 4,683.92 1.05
Arrow S&P 1,921.22 1.53
Arrow FTSE 6,042.92 2.44
Arrow DAX 10,038.04 2.71
Arrow CAC-40 4,523.08 2.81
Arrow Nikkei 17,792.16 2.15
Arrow H.Seng 20,840.61 0.45
Arrow Sensex 25,201.90 2.18

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln