Stocks fall to 2-month low; rupee ends steady

5 March 2013 03:24 am - 0 - {{hitsCtrl.values.hits}}

A A A

Sri Lankan stocks fell to a two-month low yesterday led by large caps with local retail investor sentiment hit by both political and economic concerns, but foreign buying boosted turnover.

The main share index fell 0.37 percent to 5,631.89, its lowest since December 28. Foreign investors, who mainly bought banks, acquired a net Rs.858.3 million worth shares, reversing the year-to-date net foreign outflow to a net inflow of Rs.319.2 million.

Foreign buying accounted for 81.4 percent of turnover of Rs.1.08 billion which was just above this year's daily average of Rs.1.05 billion.

The market has fallen 3.5 percent in thin volume since the IMF on February 13 said Sri Lanka was facing slow growth, high inflation and lower tax revenue risks. Analysts said retailers were also worried about what could happen to Sri Lanka at UN Human Rights Council sessions in Geneva.

The rupee ended steady at 127.40/50 to the dollar in dull trade, but currency dealers said they expect depreciation pressure on the currency in coming weeks due to an expected rise in imports ahead of the April new year festival season.

(REUTERS)

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.

Stocks fall to 2-month low; rupee ends steady

Comments - 0

Add comment

RECOMMENDED

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’

Western purple-faced langurs see blue!

Most Viewed in News

Two racing drivers arrested over Fox Hill tragedy

SL on alert on possible genocide allegations by Canada

Street food vendor arrested for verbally harassing foreigner

Ranil Wickremesinghe caravan moves on despite barking dogs

A US “Kaputa”, a Lankan “Nariya” and a Presidential “Feast”

New Visa procedure implemented

MIRROR CRICKET

Athapaththu back atop ICC Women’s ODI Batting Rankings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

TODAY'S HEADLINES

United States and SL Navy collaborate in CARAT 2024 exercise in Trincomalee

Upcountry estate workers stage a token strike

People have already selected Ranil for Presidency: Prasanna

Construction work for India-funded 10,000 housing units commenced

Sri Lanka secures third spot in South Asian Kurash Championship 2024

Athapaththu back atop ICC Women’s ODI Batting Rankings

Army forms committee to probe Diyatalawa Fox Hill Supercross accident

Indian cricket manager indicted for Legend Cricket League match-fixing allegations