Bourse slips

Tuesday, 13 August 2013 00:04 - - {{hitsCtrl.values.hits}}

Reuters: Stocks slipped in thin trade to a near one-week low on Monday led by market heavyweight John Keells Holdings, with investors awaiting fresh cues on the rupee and interest rates. Analysts said investors were cautious and awaited further direction despite the Central Bank’s easing monetary policy as concerns over a weakening rupee and high lending rates dented sentiment. “Investors are waiting to see a further fall in interest rates and depreciation pressure on the rupee to ease,” a stockbroker said on condition of anonymity. The main share index closed 0.35%, or 21.68 points, weaker at 6,130.24, its lowest close since 6 August. Shares in market heavyweight John Keells Holdings fell 0.68% to Rs. 262.50. Turnover was Rs. 372.8 million ($ 2.83 million), well below this year’s daily average of about Rs. 920.5 million. Foreign investors were net buyers of Rs. 68.8 million worth of shares, extending the net foreign inflow so far this year to Rs. 16.41 billion.

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