Bourse ends at near two-week low; financials lead

Tuesday, 29 December 2015 00:59 - - {{hitsCtrl.values.hits}}

Reuters: Sri Lankan shares closed at a near two-week low on Monday, led by financials amid thin trading as many market participants were on holiday after a long weekend.

The main stock index ended 0.44% weaker at 6,828.51, its lowest close since 15 December.

“There was no reason for market to move up with many investors on holiday. The market is also concerned over the budget as the government had given up most of its revenue,” a stockbroker said on condition of anonymity.

Foreign investors sold a net Rs. 30.8 million($214,634) worth of equities, extending the net outflow to Rs. 4.3 billion so far this year.

Turnover was at Rs. 354.4 million, a third of this year’s daily average of Rs. 1.08 billion.

Markets were closed on Thursday for a Buddhist religious holiday and on Friday for Christmas.

Top listed lender Commercial Bank of Ceylon fell 1.1%, while People Leasing and Finance plc lost 3.95%.