Bourse slips to 6-week low in dull trade

Saturday, 16 November 2013 00:00 - - {{hitsCtrl.values.hits}}

REUTERS: Stocks fell on Friday to six-week lows, led by large caps such as Nestle Lanka PLC in sluggish trade, while most investors were on the sidelines due to concerns over poor earnings. The main index closed 0.31%, or 18.08 points, weaker at 5,810.97, its lowest close since 2 October. The trading volume was sluggish because of frequent road closures for a Commonwealth summit, hitting business activities in Colombo, stockbrokers said. The day’s turnover was at Rs. 234.3 million ($ 1.8 million), well below this year’s daily average of Rs. 857.98 million. Shares in Nestle Lanka fell 2.11% to Rs. 1,973.30. Stockbrokers said investors were worried about the September-quarter earnings. Many listed firms are expected to release their quarterly earnings this month. Foreign investors were net buyers of Rs. 30.4 million of shares on Friday, extending the year-to-date net foreign inflow to Rs. 22.53 billion worth.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.