Bourse recovers from 4-month closing low on large cap buying

28 August 2013 03:25 am - 0 - {{hitsCtrl.values.hits}}

A A A

Sri Lankan stocks recovered from their lowest level in more than four months yesterday as investors picked up large cap shares such as Ceylon Tobacco Company Plc and Nestle Lanka Plc, but foreign outflows continued for the fourth day.

The main share index ended up 0.47 percent, or 27.69 points, at 5,923.34, edging up from its lowest close since April 22.

However, analysts said investors were cautious over a fall in the rupee and a weak earnings outlook. The local currency hit a one-year low yesterday due to importer dollar demand and renewed selling of government bonds by foreign investors.

Shares in Ceylon Tobacco Company Plc rose 8.98 percent to Rs.1207.50, while Nestle Lanka Plc ended 6.95 percent up at Rs.2,176.40.

Foreign investors were net sellers for a fourth straight session, selling Rs.96.3 million ($725,600) worth of shares, extending net outflows to Rs.360 million in the last four sessions.

However, they have been net buyers of Rs.18.16 billion worth of shares so far this year.

The turnover was Rs.503.2 million, well below this year’s daily average of about Rs.913.9 million.

(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.

Bourse recovers from 4-month closing low on large cap buying

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

Racing event tragedy leaves seven dead including eight-year-old child

Former MP Palitha Thewarapperuma dies from electrocution

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

Ranil Wickremesinghe caravan moves on despite barking dogs

SL on alert on possible genocide allegations by Canada

New Visa procedure implemented

MIRROR CRICKET

TODAY'S HEADLINES