Sri Lankan shares edged higher on Friday, ending a five-day losing streak and recovering from a nine-month low hit in the prior session as investors picked up battered down shares. Foreign investors turned net buyers on Friday after offloading shares for five straight sessions. Foreign investors bought a net 26.95 million rupees ($180,026.72) worth of equities on Friday. They have been net sellers to the tune of 969.69 million rupees so far this year.
The Colombo stock index ended 0.09 percent up at 6,153.02, edging up from its lowest close since April 4 hit on Thursday. It fell 0.64 percent for the week and was down 9.7 percent in 2016, its second straight annual decline. The index has been trading in the oversold territory since Tuesday with the 14-day relative strength index breaking below 30, Thomson Reuters data showed. A level between 30 and 70 indicates the market is neutral. The day's turnover was at 273.7 million rupees.
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