COLOMBO, Jan 3 (Reuters): Sri Lankan shares marked their six-week closing high on Friday, led by top lender Commercial Bank of Ceylon, amid low turnover as investors stayed on the sidelines due to political uncertainty before the presidential election next week.
The main stock index closed 0.68 per cent, or 49.44 points, higher at 7,348.39, its highest since Nov. 21.
"Market is seeing more positive direction. Some bargain hunters took opportunities ahead of the election," said Reshan Kurukulasuriya, chief operating officer of Richard Pieris Securities (Pvt) Ltd.
The central bank said the economy would grow annually at 8 per cent in the six years between 2015 and 2020 after achieving an estimated growth of 7.8 per cent in 2014.
The gain in the stock index was boosted by a 2.28 per cent rise in Commercial Bank of Ceylon and a 10.41 per cent jump in Ceylon Brewery Plc.
Turnover was 742.9 million rupees ($5.66 million), half of last year's daily average of 1.42 billion rupees, stock exchange data showed.
Foreign investors were net sellers of 10.8 million rupees worth of shares, data showed. They bought a net 22.07 billion rupees worth stocks last year, a little less than the previous year's 22.88 billion inflow.
The stock index gained 23.4 per cent in 2014 after rising 4.8 per cent in the previous year. It has lost 3.5 per cent since Nov. 19 when President Mahinda Rajapaksa announced his decision to hold a snap presidential election on Jan. 9.
Analysts said uncertainties in domestic politics have hurt sentiment.
The main stock index closed 0.68 per cent, or 49.44 points, higher at 7,348.39, its highest since Nov. 21.
"Market is seeing more positive direction. Some bargain hunters took opportunities ahead of the election," said Reshan Kurukulasuriya, chief operating officer of Richard Pieris Securities (Pvt) Ltd.
The central bank said the economy would grow annually at 8 per cent in the six years between 2015 and 2020 after achieving an estimated growth of 7.8 per cent in 2014.
The gain in the stock index was boosted by a 2.28 per cent rise in Commercial Bank of Ceylon and a 10.41 per cent jump in Ceylon Brewery Plc.
Turnover was 742.9 million rupees ($5.66 million), half of last year's daily average of 1.42 billion rupees, stock exchange data showed.
Foreign investors were net sellers of 10.8 million rupees worth of shares, data showed. They bought a net 22.07 billion rupees worth stocks last year, a little less than the previous year's 22.88 billion inflow.
The stock index gained 23.4 per cent in 2014 after rising 4.8 per cent in the previous year. It has lost 3.5 per cent since Nov. 19 when President Mahinda Rajapaksa announced his decision to hold a snap presidential election on Jan. 9.
Analysts said uncertainties in domestic politics have hurt sentiment.
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