Home / Financial Services/ CSE extends fall to over 1 month closing low; communal violence weighs

CSE extends fall to over 1 month closing low; communal violence weighs

Comments / {{hitsCtrl.values.hits}} Views / Thursday, 8 March 2018 00:07

Colombo (Reuters): Sri Lankan shares fell for a third straight session on Wednesday and posted their lowest close in more than a month amid investor concerns about continued communal violence.

Buddhist mobs attacked mosques and businesses belonging to the minority Muslims overnight, despite the imposition of a state of emergency to restore peace in the bitterly divided island.

The telecom regulator on Wednesday blocked social media networks such as Facebook, Viber and WhatsApp across the country for three days to prevent the spread of communal violence, officials said. “Investors are really worried about the continued violence,” said Acuity Stockbrokers CEO Prashan Fernando.

“The market thought the violence was under control yesterday but it continued today as well. Investors will wait until there is a peaceful situation.” Trading was thin as most investors stayed on the sidelines. Turnover was 371 million rupees ($2.39 million), less than half of this year’s daily average of around 950 million rupees.

The Colombo stock index ended 0.45% weaker at 6,503.86, following a 0.28% drop last week. Foreign investors bought a net 27.9 million rupees worth of shares on Wednesday, extending the year-to-date net foreign inflow to 6 billion rupees worth of equities so far this year.

Nestle Lanka PLC fell 3.8%, Commercial Bank of Ceylon slipped 1.5%, Sampath Bank PLC dropped 2.7% and Commercial Leasing and Finance PLC declined 6.7%.

Share This Article


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

In the desert of Tamil films, actor Sivaji Ganesan was an oasis

Saturday, 22 September 2018

‘Indian Film,’ first published in 1963 and co-authored by former Columbia University Professor Erik Barnouw and his student Dr. Subrahmanyam Krishnaswamy, is considered a seminal study of the evolution and growth of Indian cinema. The book is cit

Imran may turn blind eye to blasphemy law and persecution of Ahmadiyyas

Saturday, 22 September 2018

There are clear signs that Pakistan’s freshly minted Prime Minister, Imran Khan, will make a sincere effort to reduce corruption and maladministration in the domestic sphere. In foreign affairs he is likely to make a brave attempt to mend fences wi

The rate of exchange, capital flight and the Central Bank

Friday, 21 September 2018

The Central Bank (CBSL) exists for the sole purpose of price stability. Its controls on the financial system and monetary policy exist to maintain price stability. As put forth many times by the Governor, the failing of the CBSL to control inflation

Red flag over the Sri Lankan Navy

Friday, 21 September 2018

Shocking story Rusiripala, a former banker in Sri Lanka, who has taken to writing in Daily FT, is perturbed by the red flag I have raised (Daily FT article 18 September) over the shocking charge that our Navy had operated a ransom gang that had abduc

Columnists More