Tue, 27 Jul 2021 Today's Paper

Shares down for sixth session; Brexit woes weigh

28 June 2016 10:20 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS: Sri Lankan shares fell for a sixth straight session yesterday as investors turned cautious after the UK last week voted to leave the European Union (EU). The benchmark Colombo stock index ended down 0.81 percent at 6,318.21, its lowest close since April 11. Sterling fell more than 2 percent, the euro took a hammering and stocks dropped again yesterday as Brexit drove investors to seek safety in the yen, gold and low-risk government debt.

“Market is down with the post-Brexit effects. There are no foreigners or big investors in the market. It’s all in the hands of retailers,” said SC Securities (Pvt.) Ltd Head of Research Yohan Samarakkody. Local negatives like high interest rates and lack of clarity on the proposed capital gains tax also had an impact on the market, he said. Sri Lanka’s Cabinet on June 15 approved a proposal to reintroduce capital gains tax, especially on land sales. Overseas funds offloaded Rs.142.6 million worth of equities yesterday, extending the year-todate net foreign outflow to Rs.6.17 billion worth of shares. Turnover stood at Rs.566.2 million, less than this year’s daily average of around Rs.747.2 million. Shares in Bukit Darah Company PLC fell 9.92 percent while Sri Lanka Telecom PLC fell 2.11 percent. Biggest-listed lender Commercial Bank of Ceylon PLC lost 0.90 percent.

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into 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


Site survey near Akasa Chaitya: Is it the end of Yala?

The Yala National Park has been at the receiving end of human disturbances fr

Basil Rajapaksa’s catch 22 situation

Sri Lankan politics has been a good deal of family business. It was not even

“This govt. printed Rs. 880 billions”

This is the roadmap of Zimbabwe

“We are on the cusp of a mothers-led movement for better birth rights in Sri Lanka” – Kanya D’Almeida

Writer Kanya D’Almeida became the first Sri Lankan to win the ‘Commonweal



See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.