Bourse close at 5-month low

Thursday, 5 September 2013 00:49 - - {{hitsCtrl.values.hits}}

Reuters: Stocks fell for a third straight session on Wednesday to a five-month closing low, led by conglomerate John Keells Holdings while concerns over the rupee volatility also weighed on the Bourse, traders said. The main share index ended down 0.13%, or 7.47 points, at 5,744.89, its lowest close since 3 April. Shares in top conglomerate John Keells Holdings fell 0.84% to Rs. 213. The rupee traded weaker due to importer dollar demand and remained under pressure in the absence of strong dollar inflows. The currency had hit an all-time low last week on panic buying by importers, but recovered later. Wednesday’s turnover was Rs. 431.3 million ($ 3.24 million), well below this year’s daily average of about Rs. 896.1 million. Foreign investors were net sellers for the first time in six sessions, selling Rs. 41.1 million worth of shares, but they have been net buyers of Rs. 18.57 billion in stocks so far this year.

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