Sun, 23 Jan 2022 Today's Paper

Shares slip to near 3-week closing low in dull trade

18 September 2018 12:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

(Colombo) REUTERS: Sri Lankan shares fell slightly to a near three-week closing low yesterday as investors sold manufacturing and banking stocks in dull trade and the rupee hit a fresh low in its record-setting spree.


The Colombo stock index ended 0.05 percent weaker at 6,028.49, its lowest close since August 28. It lost 1.4 percent last week, its first weekly drop in four.


Turnover was Rs.440.4 million yesterday, less than this year’s daily average of Rs.797.1 million.


Foreign investors, who have been net sellers of Rs.4.6 billion worth of shares so far this year, bought a net Rs.162.4 million worth of equities yesterday.

Trading was dull as investors waited to see the direction of economy, said First Capital Holdings PLC Assistant Manager Research Atchuthan Srirangan.


“Rupee depreciation is good for export-oriented companies but manufacturing and other companies will feel the pain and also the overall economy, it will impact negatively. So, investors are waiting to see the direction and real impact,” he said.


Analysts said the fuel price hike also hurt investor confidence as it could hit corporate earnings.


Fuel retailers raised gasoline and diesel prices for a third time in four months last Tuesday due to higher global oil prices and a weaker rupee.
Investors are also awaiting cues from the national budget which the government is set to unveil in November.


Shares of Distilleries Company of Sri Lanka PLC fell 1.7 percent, Lion Brewery (Ceylon) PLC ended 2.3 percent down, Chevron Lubricants Lanka PLC closed 6.6 percent weaker and Hatton National Bank PLC lost 1.1 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.

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

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.

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




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.

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.


“US has a right to criticise and to be criticised” – Sam Brownback

The United States continues to police other countries on democracy and human

Indo-Lanka Accord, 13th Amendment and the Tamil March of Folly

Much concern is now being shown by political parties representing the minorit

How a Sri Lankan woman’s death shook Japan and pushed towards changes

Japan has long been internationally criticised for its refugee recognition an

Turmoil in Toronto as “Tigers” Target TNA Meeting

Last Saturday (Nov. 20) saw a group of self-styled political activists creat