Bourse dips, rupee ends weaker

Reuters: Shares ended weaker on Wednesday, slipping from a more than two-week high in thin trade as investors sold large caps, dealers said.

The main share index fell 0.32%, or 18.50 points, to 5,685.82.

Analysts said that many local investors stayed on the sidelines as yields on Treasury bills rose for the second week despite the central bank holding its key policy rates unchanged for a third straight month last week.

“Local investors will be on the sidelines as long as the interest rates remain high,” said a stockbroker on condition of anonymity.

Bourse...

Foreign investors, however, were net buyers of Rs. 64.36 million worth of shares, extending year-to-date foreign inflows to Rs. 3.17 billion.

Turnover was Rs. 447 million ($ 3.55 million), the lowest since 22 February and well below this year’s daily average of Rs. 1.05 billion.

The rupee ended weaker at 126.50/55 to the dollar slipping from a one-month closing high of 126.18/28 hit on Tuesday due to importer dollar demand, dealers said.