Bourse dips

Tuesday, 4 March 2014 00:40 - - {{hitsCtrl.values.hits}}

REUTERS: Sri Lankan shares edged down on Monday from a one-week high with turnover slumping to a two-month low despite foreign investors being net buyers of the island nation’s risky assets. The main stock index fell 0.44%, or 26.30 points, to close at 5,914.01, slipping from a one-week high hit on Friday. Top conglomerate John Keells Holdings fell 1% to Rs. 218.50. The day’s turnover was Rs. 259.6 million ($ 2 million), the lowest since 26 December and less than a quarter of this year’s daily average of about Rs. 1.06 billion. Foreign investors bought a net Rs. 6.35 million worth of shares on Monday, but they have been net sellers of Rs. 5.42 billion worth of shares for the past 16 sessions as some offshore funds exited the market. The index has seen a net Rs. 4.03 billion of foreign outflows so far in 2014, after enjoying net inflows of Rs. 22.88 billion last year. Analysts said investors were concerned about further outflows, though local investors are still optimistic about risky assets due to falling interest rates.

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