* Banks, motor shares drive gains
* Foreign inflow at 2-wk high of 556.4 million
* Rupee down on importer dlr demand
COLOMBO, May 16 (Reuters) - Sri Lankan shares rose on Monday for a third straight session boosted by offshore buying that drove second-largest private bank Hatton National Bank up 4.6 percent, while the rupee edged down on importer dollar demand.
Sri Lanka's main share index closed 0.53 percent or 38.75 points up to 7,358.69, its highest close since May 9.
Motor vehicle importer and assembler Lanka Ashok Leyland , a largely illiquid share, jumped 20 percent in thin trade.
Foreign investors were net buyers with an inflow of 556.5 million rupees' worth of shares on Monday. They have sold a net 5.27 billion in 2011, and a record 26.4 billion in 2010.
Turnover was 2.03 billion Sri Lanka rupees ($18.5 million), below last year's average of 2.4 billion rupees and this year's daily average of 2.81 billion rupees.
Traded volume was 97.1 million, against a five-day average of 80.4 million. The 30-day and 90-day average trading volumes were 58.1 million and 65.3 million, respectively. Last year's daily average was 67.9 million.
The bourse is still Asia's best performer in 2011 with a 10.9 percent gain, after bringing in the region's top return of 96 percent last year.
The rupee edged down to 109.78/80 a dollar from Friday's close of 109.76/78 on importer dollar demand, dealers said.
Both the stock and currency markets will be closed on Tuesday and Wednesday for a Buddhist religious holiday. Normal trading will resume on Thursday.
FACTORS TO WATCH:
- Impact of global commodity price volatility on the Sri Lankan bourse
- If Sri Lanka can achieve an 8.5 pct growth target amid rising global oil prices and inflation
- March quarter corporate results
source - www.reuters.com
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