Shares end at over 3-month low

20 October 2015 02:32 am - 0 - {{hitsCtrl.values.hits}}

A A A

REUTERS: Sri Lankan shares closed at their lowest level in more than three months yesterday, falling for a fifth straight session as investors awaited cues from government policies and budget, brokers said.

The main stock index ended 0.05 percent, or 3.39 points, weaker at 7,017.35, its lowest close since July 13.

“There is no excitement. There is a lot of clutter regarding what to expect from the budget,” said Softlogic Stockbrokers Research Head Danushka Samarasinghe.
“The uncertainties have hit the market and created negative sentiment,” Samarasinghe said.
Analysts said investors were cautious ahead of Prime Minister Ranil Wickremesinghe’s policy statement next month outlining his government’s economic priorities ahead of 2016 budget announcement scheduled in the third week of November.
Analysts said a government’s move to implement a budget proposal of a retrospective tax targeting corporate is the main concern for investors.
Turnover stood at Rs.1.2 billion, compared with this year’s daily average of Rs.1.1 billion.
Foreign investors were net sellers of Rs.174.4 million worth of shares yesterday, extending the year to date net foreign outflow to Rs.2.91 billion worth of equities.
Shares of Cargills (Ceylon) PLC fell 7.31 percent while Sri Lanka Telecom PLC declined 1.66 percent, dragging the main index.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Shares end at over 3-month low

Comments - 0

Add comment

RECOMMENDED

‘Spike in blast fishing’ poses renewed threats to Sri Lanka’s marine ecosystems

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Most Viewed in News

Controversy over foreigners issuing on-arrival visas at BIA

Racism, body-shaming fly high with Air Belgium crew against SriLankan staff

“Ranil Ralla” : Will Wickremesinghe ride on a winning wave?

Supreme Court rules Diana Gamage ineligible for parliamentary seat

Kumar Sangakkara’s relative’s house, gutted by fire in Kandy

Sri Lanka face unusual dilemma

MIRROR CRICKET

Former netball star Kretser to head CDTA

Sri Lanka Cricket raises player fees across all formats

Plans approved for £61.8m redevelopment of Lord’s

Sri Lanka great tips Sanju Samson to thrive at T20 World Cup

TODAY'S HEADLINES

Battery-operated toys pose risks to kids

1,000 Sri Lankan mercenaries in Russia -Ukraine war front as mercenaries

Homagama jewellery shop robbed at gunpoint

SJB nominates Mujibur as MP despite request to appoint a woman representative in place of Diana

Former netball star Kretser to head CDTA

Former SL netball captain fails doping test

Plans approved for £61.8m redevelopment of Lord’s

Sri Lanka announces squad for T20 World Cup 2024