Thu, 09 Feb 2023 Today's Paper

Shares at 1-week closing low; foreign inflows cap losses

8 June 2017 12:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS: Sri Lankan shares ended down for a fourth consecutive session yesterday, and hit their lowest close in more than a week, due to profit-booking in large-cap shares such as Ceylon Tobacco Company PLC, but foreign inflows helped curb losses.
Analysts said investors are waiting to see the real impact of the floods and landslides caused by the worst torrential rains in 14 years, killing over 200 people and devastating crops. The Colombo stock index ended down 0.08 percent at 6,664.00, its lowest close since May 30. Turnover was Rs.2.09 billion, its highest since May 24 and well above this year’s daily average of Rs.901.1 million.

Inflation could rise in the short term, especially due to crop damage and difficulties in distributing fresh food produce and staple food items, analysts said.
“Today, the turnover was very healthy with some crossings. But despite that, the market ended weaker as investors are worried over the real impact of the flooding,” said SC Securities Head of Research Yohan Samarakkody. “The gloomy investor sentiment that we have seen during this week is mainly due to the floods, which will have an impact on the economy.”
Foreign investors, however, were net buyers of Rs.316.3 million worth of shares, extending the year-to-date net foreign inflow to Rs.20.1 billion.
Ceylon Cold Stores PLC, which accounted for 55 percent of the day’s turnover, ended down 5.6 percent.
Shares of Ceylon Tobacco Company slipped 1.11 percent, while the biggest listed lender Commercial Bank of Ceylon PLC declined 0.37 percent, Bukit Darah PLC shed 2.69 percent, Carson Cumberbatch PLC dropped 2.23 percent.
The markets are closed today for a Buddhist religious holiday. Trading will resume tomorrow.

 


Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop 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




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Jeevan sets a record as Lanka’s youngest-ever Cabinet Minister

Ceylon Workers Congress (CWC) and Nuwara-Eliya district MP Jeevan Kumaravel T

TNA was Born in 2001 Due to Elections Shock of 2000

The Tamil National Alliance (TNA) with 10 seats in Parliament is currently fa

Pain and punishment

Should we spare the rod and spoil the child? Does it really happen? Children

Health System in the emergency room

Sandya Kumari from Kotahena has been experiencing chest pains since 2015 and