Shares end weaker; pre-poll uncertainty weighs on sentiment

1 July 2015 06:27 am - 0 - {{hitsCtrl.values.hits}}

A A A

REUTERS: Sri Lankan shares fell yesterday, hovering near 2-1/2 month lows, led by large caps such as Nestle Lanka Plc as political uncertainty before parliamentary elections weighed on sentiment.

President Maithripala Sirisena dissolved parliament on Friday and scheduled elections for Aug. 17, in an effort to consolidate power and push through political reforms. The main stock index ended 0.16 percent, or 11.35 points, weaker at 7,020.80, hovering near its lowest close since April 15 hit on Friday.
The day’s turnover was Rs.651.5 million ($4.87 million), well below this year’s daily average of Rs.1.07 billion.

“Still the political situation is not clear. We expect the market to continue on sideways due to political uncertainty,” said Reshan Wediwardana, a research analyst at First Capital Equities (Pvt) Ltd.

The market saw net foreign outflow of Rs.82.1 million yesterday, after suffering net outflows of Rs.4.15 billion over the past 25 sessions.

But foreign investors were net buyers of Rs.1.79 billion worth of shares so far this year. Shares in Nestle Lanka fell 0.03 percent, while Ceylon Theatres Plc declined 2.84 percent.

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 weaker; pre-poll uncertainty weighs on sentiment

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

No decision to declare April 15 as public holiday

April 15 declared a government holiday

23 year old youth ends up having his testicles removed

Suspicious death of 23-year-old woman at hotel sparks concerns

Corporal from Air Force Rugby pool killed in police shootout

Sri Lanka’s Rupee leads emerging markets in 1st quarter of 2024

MIRROR CRICKET

TODAY'S HEADLINES