Tue, 16 Aug 2022 Today's Paper

Shares edge down; foreign investors sell John Keells

17 August 2018 12:10 am - 0     - {{hitsCtrl.values.hits}}

A A A

Colombo (REUTERS): Sri Lankan shares ended marginally weaker yesterday, marking their fifth straight session of losses, as foreign investors sold market heavyweight John Keells Holdings amid global worries.


Foreign investors sold shares worth a net Rs.474.7 million (US$2.96 million) yesterday, extending the foreign outflow to a net Rs.3.24 billion worth of equities so far this year.


Lacklustre corporate results also hit investor appetite for riskier assets, analysts said.


The Colombo stock index fell 0.05 percent to 6,083.59, its lowest close since July 10. It has declined about 4.5 percent so far this year.


“There was no catalyst to move the market and the recently released June quarter earnings are not that encouraging,” said Atchuthan Srirangan, assistant manager - research, First Capital Holdings Plc.


Turnover was Rs.788.9 million (US$4.92 million) yesterday, less than this year’s daily average of Rs.832.8 million.


Brokers have also said possible loose fiscal policies in the upcoming budget to woo voters ahead of next year provincial council and presidential polls also have hurt investor sentiment.

 

Emerging-market equities languished in bear territory yesterday, shrugging off the prospect of new trade talks between China and the United States, while Turkey’s lira recovered.


Shares in John Keells, which accounted for 71.4 percent of the day’s turnover, fell 1.2 percent, while shares in Ceylinco Insurance slid 1.9 percent.


The Central Bank left its key policy rates unchanged, as expected, on Aug. 3, citing its goals of stabilising inflation and fostering sustainable economic growth.
Central Bank Governor Indrajit Coomaraswamy said the economy was unlikely to grow more than 4 percent in 2018, falling short of an earlier estimate of 5 percent. 

 

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 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.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  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 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.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


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 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.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Tamil Parties Must Urge Full Implementation of 13A

Last week’s article was about the guerilla war fought by the Janatha Vimukt

Govt. re-recommends COVID-19 regulations: Medics, legal experts warn of vaccine expiry dates and injuries

The public has once again been advised to wear masks to prevent the spread of

8-year-old grave sexual abuse victim gets justice after 18 years

In Palawela Udaniriella, an 8-year-old girl became the victim of Grave Sexual

Covid makes a comeback!

These questions have been buzzing in our heads over the past few weeks as hea