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Message: <blockquote data-quote="lkdood" data-source="post: 9394414" data-attributes="member: 92282">Sri Lanka's stock market hit a new all-time closing high on Monday on  heavy retail buying, while foreign investors bought in thin volumes  after the IMF approved the island nation's loan tranche last week. The  island's main share index touched a new intraday high of 7,411.69 before  closing at 0.47 percent or 34.29 points firmer at a record close of  7,381.10.It has been Asia's best performer with an 11.2 percent  gain in 2011 after being the top performer last year with a 96 percent  return. Recent retail buying has pushed it deeper into the overbought  region with the 14-day relative strength index at 81. Analysts said the  bourse would gain further on low interest rates and low property prices,  though the recent strong gain in some stocks was not fundamentally  warranted. The market widely expects the central bank to keep monetary  policy rates unchanged on Tuesday.Foreign investors bought a net  18.3 million rupees' worth shares on Monday after the IMF comments on  Friday, but they have sold a net 3 billion rupees so far in 2011, after  selling a record net 26.4 billion in 2010. Traded share volume was 122.9  million, against a five-day average of 110.91 million. The 30-day and  90-day average trading volumes were 92.9 million and 71.4 million  respectively. Last year's daily average volume was 69.2 million. The  bourse is trading at a forward price-to-earnings (P/E) ratio of 17.3,  one of the highest among emerging markets, compared with 13 in Asian  markets and 11.9 in global emerging markets, Thomson Reuters StarMine  data showed.Reuters</blockquote>

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