Sri Lankan shares rose for a fourth straight session and closed at their highest in nearly two weeks on Friday, but investors were cautious ahead of a key policy statement by the government. The main stock index ended 0.18 percent, or 12.64 points, firmer at 7,081.49, its highest close since October 12. Turnover was 1.08 billion rupees ($7.66 million), in line with this year's daily average of 1.1 billion rupees.
"Most of the investors were on a wait-and-see mood," said Dimantha Mathew, a research manager at First Capital Equities (Pvt) Ltd, adding that the market advanced on "some speculative buying" on illiquid shares. Foreign investors, who have been net sellers of 2.92 billion rupees worth of equities so far this year, bought a net 4.25 million rupees worth shares on Friday. Shares of John Keells Holdings rose 0.29 percent, while Asian Hotels and Properties Plc increased 4.67 percent.