Sri Lankan stocks climbed to a new life closing high for the third-straight day on Tuesday, driven mainly by retail buying in property stocks, brokers said.
The key Colombo all-share index ended up 0.96 percent, or 14.07 points, at 1,475.49. The land and property index jumped 20.13 percent, or 45.46 points, to 271.31.
"Property stocks are up because some are expected to show good quarterly earnings. On average retailers are moving small stocks up expecting short-term gains," said one broker.
C.T Land Development Ltd rose 61.4 percent to 17.75 rupees on retail buying.
Total foreign sales accounted for 151 million rupees, with market turnover at 868.7 million rupees and scant foreign buying.
Associated Property Developments Ltd leapt 94.4 percent to 35 rupees.
Colombo Land and Development Co Ltd rose 17.9 percent to 8.25 rupees on retail and foreign buying.
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