Sri Lanka's stock market rose to a one-month high on Friday on retail buying, as the impending long new year holiday next week kept volumes low. The island's main share index closed 0.48 percent or 35.14 points firmer at 7,413.87, Highest since March 8. It hit a record closing high of 7,811.82 on February 14.
The Stock Exchange declared April 15 a special holiday to mark the traditional New Year which falls on April 13 and 14. Foreign investors were net buyers of shares worth 33.7 million rupees on Friday, extending the total inflow to 1.2 billion rupees in the last seven sessions. But they have sold a net 6.6 billion in 2011, and a record 26.4 billion in 2010.
The day's turnover was at 1.6 billion Sri Lanka rupees ($14.5 million), less than last year's average of 2.4 billion rupees and well below this year's daily average is 3.1 billion rupees. The bourse is still Asia's best performer in 2011 with an 11.7 percent gain, after bringing in the region's top return, 96 percent, last year.
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