Home / Front Page/ Shares slip to 1-week closing low on foreign selling

Shares slip to 1-week closing low on foreign selling


Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 11 September 2018 00:00

Facebook

Reuters: Shares fell to one-week closing low on Monday as foreign investors sold blue chips such as conglomerate John Keells Holdings Plc.

The Colombo stock index ended 0.35% weaker at 6,096.54, its lowest close since 3 September. It rose 0.6% last week in its third straight weekly gain.

Turnover was Rs. 615.9 million ($3.79 million), less than this year’s daily average of Rs. 795.6 million.

“Today also, foreign selling was there and it impacted the market. 

Foreigners are exiting with the dollar strengthening,” said First Capital Holdings Plc Assistant Manager – Research Atchuthan Srirangan.

“Local investors are worried over continued foreign selling on the back of dollar strengthening globally and they are on the sidelines.”

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

Foreign investors sold a net Rs. 112.1 million of shares on Monday, extending the year-to-date net foreign outflow to Rs. 4.4 billion worth of shares.

Shares of Distillers Company of Sri Lanka Plc fell 3.1%, while conglomerate John Keells Holdings ended 0.7% down and AIA Insurance Lanka Plc lost 4.4%.


Share This Article

Facebook Twitter


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 Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.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

No more stones to break Sri Lankan bones

Friday, 19 April 2019

Trial by fire is not a new ordeal to Christian community. It predates Notre Dame and Nazism by millennia. In fact, a decade or so before Nero torched believers to light Roman avenues, Jewish religious leaders put Jesus-followers to the test as the Ch


Wounding the social psyche

Friday, 19 April 2019

In this article, I intend to discuss the serious wounds inflicted on the psyche of Sri Lankan society, which have not received adequate attention, but need immediate cure, for they might develop into a dangerous cancer if not treated without further


What 5G could be to Game of Thrones (and vice versa)

Friday, 19 April 2019

We will be hearing a lot about these two seemingly unrelated topics this month. In a hurriedly but meticulously organised event, Dialog Axiata recently demonstrated 5G applications for the first time in South Asia. 5G will be commercially available


On time – Only for a week! A must-change!

Thursday, 18 April 2019

We are in April and the month where we witness the declaration of a new year as per our traditional practice. It is that period of time when a huge majority of our population, which certainly can be counted in millions, intends to act in unison and q


Columnists More