Home / Front Page/ Shares end flat in lacklustre trade

Shares end flat in lacklustre trade


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 12 September 2018 00:00


Reuters: Shares closed flat on Tuesday, near a more than one-week closing low, with beverage and manufacturing shares witnessing mild selling, a day after fuel prices were hiked for the third time in four months.

Sri Lankan fuel retailers raised gasoline and diesel prices for a third time in four months on Tuesday due to higher global oil prices and a weaker rupee, a finance ministry official said. Turnover was Rs. 337.3 million ($ 2.08 million), less than half of this year’s daily average of Rs. 792.8 million.

The Colombo stock index ended 0.02% weaker at 6,095.23, its lowest close since 3 September. It had risen 0.6% last week in its third straight weekly gain.

“The market came down marginally today, but the good sign is we see some net foreign buying,” said Hussain Gani, deputy CEO at Softlogic Stockbrokers.

Analysts said investors also waited for cues from the national budget which the Government is set to unveil in November.

Foreign investors bought a net Rs. 74.7 million of shares on Tuesday, but they have been net sellers of Rs. 4.4 billion worth of shares so far this year.

Shares of conglomerate John Keells Holdings Plc fell 0.2% while Lanka ORIX leasing Plc lost 2.2%.


Share This Article


DISCLAIMER:

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 Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.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

COMMENTS

Today's Columnists

The fish that swallowed the whale

Friday, 16 November 2018

This is an easy-peasy, elementary effort of an ordinary citizen to comprehend the mad scramble for power among the political class. It is undertaken in the belief that the crisis we face is an opportunity to reject the family kleptocracy of Mahinda R


Courting democracy; Housing disaster?

Thursday, 15 November 2018

A small step was taken by a sovereign court the day before yesterday. It was a giant leap for the supremacy of the Constitution over all three arms of government in a recently benighted Sri Lanka. As well as being the tangible proof of intra-governme


Sri Lanka’s Judiciary in its finest hour

Thursday, 15 November 2018

“We must never forget that the only real source of power we as judges can tap is the respect of the people” –Justice Thurgood Marshall


When scholars turn slayers of reason

Thursday, 15 November 2018

“… I think, that the intellectual is an individual endowed with a faculty of representing, embodying, articulating a message, a view, an attitude, philosophy or opinion to, as well as for, a public. And this role has an edge to it, and cannot be


Columnists More