Sri Lankan stocks hit one-week high

Sri Lankan stocks edged up on Friday to hit one-week highs, led by large-cap shares such as Nestle Lanka Plc despite foreign investors exiting some risky assets. The main stock index gained 0.12 percent, or 8.74 points, to 7,314.91, its highest close since February 13. Turnover was at 1.1 billion rupees ($8.28 million), less than this year's daily average of 1.45 billion rupees.
"The market will remain stable and investors are awaiting to see a clear direction who will win the next election and they are awaiting to see political stability," a stockbroker said on condition of anonymity. Shares in Nestle Lanka Plc, which on Thursday posted an 11.7 percent increase in its total comprehensive income for the December quarter, rose 2.32 percent. Foreign investors were net sellers for the third straight session on Friday. They sold net 57.3 million rupees worth of shares on Friday extending the net foreign outflow for the last three straight sessions to 315.1 million rupees.