Colombo Stock Exchange (CSE) hit a new record high on Thursday (29) led by retail buying.

The All-Share Price Index of the Colombo Stock Exchange hit an all-time high of 4176.83, surpassing its previous record high of 4,161.56 hit on Monday. It closed 20.54 or 0.5 percent weaker at 4155.00.

"Retailers are pushing up the market on various stories the market will move up further," said Jaliya Wijeratne, director, institutional sales at SMB Securities.

Foreign investors sold a net 613 million rupees' worth of shares, data showed. They have sold a net of around 16.4 billion rupees'($143.5 million) worth of shares so far this year.

They were net sellers for 789 million rupee worth last year for the first time since 2001, reported Reuters.