Sri Lankan shares fall for fifth session in six
Posted on July 18th, 2017
Courtesy Reuters
COLOMBO, July 18 (Reuters) – Sri Lankan shares closed lower on Tuesday, marking their fifth session of decline in six, although foreign investors continued to buy stocks.
Domestic investors were concerned about a possible increase in interest rate, analysts said, after the International Monetary Fund said further monetary policy tightening in Sri Lanka was desirable until there were clear signs that inflationary pressures were subsiding.
Foreign investors were net buyers of shares worth 658.9 million rupees ($4.3 million) on Monday, extending the year-to-date net foreign inflow to 24.3 billion rupees worth of equities.
The Colombo stock index ended 0.09 percent lower at 6,735.04, marking a second straight losing session.
“The turnover was good and there was a huge interest in select shares,” said Prashan Fernando, CEO at Acuity Stockbrokers.
Turnover was 1.25 billion rupees, more than this year’s daily average of 913.4 million rupees.
Shares of large cap Ceylinco Insurance fell 7.35 percent, while Ceylon Tobacco Company edged down 0.8 percent.
$1 = 153.7500 Sri Lankan rupees Reporting by Shihar Aneez; Editing by Amrutha Gayathri
July 18th, 2017 at 8:24 pm
DISASTER is what defines SL under this YAMANPALANA regime. Every sector collapses. Natural disasters. Demonstrations. Now the regime is after GODS as well. UNP regime is ROBBING temples! This will bring more disasters.
Now Colombo stock exchange is an UNPREDICTABLE gambling spot. DO NOT invest in it. If you have any investments, pull OUT now before price collapse. IF you are a foreign investor, GET OUT before it is too late!
ETCA will RUIN all SL industries.