Sri Lankan stocks closed higher on Wednesday, boosted by gains in Sri Lanka Telecom Ltd, but market turnover remained thin with investors still wary of political uncertainty.
The key Colombo all-share index ended up 0.89 percent, or 10.70 points, at 1,212.22. Telecom rose 3.17 percent, or 0.50 rupees, to 16.25 rupees, helped by foreign buying, while conglomerate John Keells Holdings Ltd gained 0.24 percent, or 0.25 rupees, to 102.75 rupees.
The two stocks together account for about one-fifth of the market. But brokers said investors were still watching the island's political situation, with the first session of parliament since a snap poll early this month due to open on Thursday, and market activity was light, at 66.9 million rupees.
Parliament will offer a first look at the United People's Freedom Alliance, which was elected with a minority mandate and is more left-leaning than former Prime Minister Ranil Wickremesinghe's pro-business United National Party.
Banking stocks also posted modest gains, with NDB Bank Ltd picking up 1.87 percent, or 0.50 rupees, to 27.25 rupees and Hatton National Bank Ltd rising 3.13 percent, or two rupees, to 66 rupees.
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