Sri Lankan shares ended marginally higher on Wednesday, edging up from their 30-month closing low hit in the previous session, as investors picked up battered shares, while sentiment was weighed down by weak rupee and continued foreign selling. The Colombo stock index ended 0.06 percent firmer at 5,974.75, edging up from its lowest close since March 15, 2016 hit on Tuesday. It lost 1.4 percent last week, its first weekly drop in four.
Turnover was 657.2 million rupees ($3.94 million) on Wednesday, less than this year's daily average of 796.7 million rupees. Foreign investors sold a net 207.8 million rupees worth of shares extending the year-to-date net foreign outflow to 5.1 billion rupees worth of equities.
"Strong buying came to the market after the sharp drop. Bargain hunting and value buying were witnessed," said Hussain Gani, deputy CEO, Softlogic Stockbrokers.