Stocks at 7-week low : Budget awaited

31 October 2012 03:11 am - 0     - {{hitsCtrl.values.hits}}

A A A

Sri Lankan stocks dipped yesterday to a more-than seven-week low as most investors waited on the sidelines ahead of the announcement of 2013 budget, while the rupee fell on importer dollar demand, dealers said.

The Colombo Stock Exchange’s main index fell 0.55 percent, or 30.26 points, to end at 5,520.62, its lowest since Sept. 7.

“At the moment, investors are looking for the direction with lack of liquidity,” said a stockbroker who declined to be identified. Analysts said investors were waiting for an indication of the market’s direction from the annual budget, scheduled for Nov. 8, and a raft of quarterly earnings due out from next week. Turnover was 307.8 million rupees ($2.37 million), a third of this year’s daily average of 925 million rupees.

Foreigners were net buyers of 12.6 million rupees worth of shares, extending the net foreign inflow so far this year to 33.73 billion rupees.

The rupee ended weaker at 130.15/25 to the dollar from Friday’s close of 129.75/95, dealers said.
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

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

 

 

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.

Reply To:

Name - Reply Comment




Gotabaya Govt’s pre-emptive strike against LTTE Maaveerar Naal

November 27th 1989 was the day on which the Liberation Tigers of Tamil Eelam

Adivasi community struggle to preserve 37,000 -year-old heritage

Sri Lanka’s indigenous Adivasi community—the Vedda people—have historic

Pad politics is back

In November 2019, in the run up to the Presidential election, Sri Lanka debat

ANYTHING FOR MONEY

Some unregulated online lenders are remotely taking control of phones of thos

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