Thu, 27 Jan 2022 Today's Paper

Stocks hover near 5-1/2-month closing low

12 June 2018 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

COLOMBO (Reuters): Sri Lankan shares edged lower yesterday, falling for a fourth straight session to end at their lowest close in more than five months, as investors continued to stay on the sidelines looking for fresh cues.


The Colombo stock index ended 0.04 percent weaker at 6,352.61, its lowest close since Dec 26. The bourse fell 0.7 percent last week recording a third straight weekly fall.


“The market was very slow with weak investor sentiment and things continue to remain low,” said First Capital Holdings Research Head Dimantha Mathew.


“The investor perspective is things are uncertain and they are not willing to invest due to lack of any positive news on the economic front.”


Most investors have adopted a wait-and-watch approach, hoping for some positive news on the economic front, analysts said.


Turnover was Rs.393.9 million, less than half of this year’s daily average of Rs.970.2 million.
Foreign investors bought net Rs.59.6 million worth of equities yesterday. The market, however, has witnessed a year-to-date net foreign outflow of Rs.494.9 million worth of shares.

A weaker rupee, political uncertainty and the recent fuel price hike weighed on sentiment in the past week with local investors remaining on the sidelines as they gauged the impact of the floods last month, brokers said.


The Sri Lankan rupee slipped to a fresh all-time low of 159.10 per dollar yesterday, pulled down by a lack of support for the local currency from exporters.


Shares in Asiri Hospitals PLC ended 0.4 percent lower, while Melstacorp Ltd closed 0.6 percent weaker, Distillers Company of Sri Lanka PLC closed down 0.9 percent, the biggest-listed lender Commercial Bank of Ceylon PLC ended 0.3 percent lower and Sri Lanka Telecom PLC closed 1.6 percent weaker.

 

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.