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Shares fall to one-week low

17 September 2015 02:55 am - 0     - {{hitsCtrl.values.hits}}

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REUTERS: Sri Lankan shares ended at one-week low yesterday, falling for a second straight day as investors turned cautious amid a weakening rupee and an upward trend in market interest rates.
The main stock index ended down 0.21 percent or 15.03 points at 7,137.40, its lowest since September 8.
Turnover stood at Rs.771.3 million well below this year’s daily average of Rs.1.12 billion. The turnover has been about half of this year’s daily average since August 31, stock exchange data showed.
SC Securities (Pvt.) Ltd in a investor note said the fall was “due to lack of any clear direction.”
Analysts said investors were awaiting to see how the government is going to bridge the budget deficit and where the revenue is going to come in its October budget.
A weak rupee curbed investor risk appetite and rising market interest rates also hit sentiment, with T-bill yields at their highest in more than five months at the last auction.
Foreign investors were net buyers of Rs.46.6 million worth of shares, but they have been net sellers of Rs.2.97 billion worth of equities so far this year.
Shares in Lanka ORIX Leasing Co PLC fell 5.48 percent, while People’s Leasing & Finance PLC fell 4.24 percent. 
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