Bourse ends steady in thin trade

Thursday, 6 March 2014 00:35 -     - {{hitsCtrl.values.hits}}

REUTERS: Sri Lankan shares ended steady on Wednesday as gains in large-caps such as Ceylon Tobacco Company Plc offset losses in banks, but trading was thin as cautious investors stayed on the sidelines. The main stock index ended flat at 5,936.43 points. Ceylon Tobacco Company rose 1.28% to Rs. 1,120, while top lender Commercial Bank of Ceylon fell 0.87% to Rs. 114. The day’s turnover was Rs. 281.1 million ($ 2.15 million), well below this year’s daily average of about Rs. 1.03 billion. Analysts said investors were cautious and waiting for direction as a tough resolution on Sri Lanka comes up for voting at the United Nation’s Human Rights Council later this month. Foreign investors bought a net Rs. 19.8 million worth of shares on Wednesday, but they have been net sellers of Rs. 5.41 billion for the last 18 sessions as some offshore funds exited the market. The index has seen a net Rs. 4.02 billion of foreign outflows so far in 2014, after net inflows of Rs. 22.88 billion last year.