Subscribe

Shares slip to 1-week closing low on foreign selling

2018-09-11 00:01:48
0
384

(Colombo) Reuters: Sri Lankan shares fell to one-week closing low yesterday as foreign investors sold blue chips such as conglomerate John Keells Holdings PLC.


The Colombo stock index ended 0.35 percent weaker at 6,096.54, its lowest close since September 3. It rose 0.6 percent last week in its third straight weekly gain.Turnover was Rs.615.9 million, less than this year’s daily average of Rs.795.6 million.

“Today also, foreign selling was there and it impacted the market. Foreigners are exiting with the dollar strengthening,” said Atchuthan Srirangan, Assistant Manager - Research, First Capital Holdings PLC.


“Local investors are worried over continued foreign selling on the back of dollar strengthening globally and they are on the sidelines.”


Analysts said investors also waited for cues from the national budget which the government is set to unveil in November.
Foreign investors sold a net Rs.112.1 million of shares on Monday, extending the year-to-date net foreign outflow to Rs.4.4 billion worth of shares.


Shares of Distillers Company of Sri Lanka PLC fell 3.1 percent, while conglomerate John Keells Holdings ended 0.7 percent down and AIA Insurance Lanka PLC lost 4.4 percent.

 


  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.
Name is required

Email is required
Comment cannot be empty

Sri Lankan Silicon Valley tech firm Auxenta named in ‘30 Most Innovative Companies to Watch 2018’

Friday, 21 September 2018 15:31
0
525

The fast-growing boutique technology solutions firm, Auxenta, is proud to be named as one of ‘


Coca-Cola partners with MEPA to “Give Back Life” to the marine environment

Friday, 21 September 2018 15:16
0
366

Coca-Cola Beverages Sri Lanka Ltd. (CCBSL) partnered with the Marine Environment Protection Authorit


Sachin De Silva and Olga Ashley Herath head to Shanghai to witness HSBC World Golf Champions Tournament

Friday, 21 September 2018 10:57
0
345

Sachin De Silva became the overall winner of the 6th HSBC Premier Golf Tournament and Olga Ashely He


More News