Bourse fall from 1-week closing high

Tuesday, 25 March 2014 00:06 - - {{hitsCtrl.values.hits}}

REUTERS: Sri Lankan shares slipped on Monday from their week-high, with heavyweight Ceylon Tobacco Co PLC falling 5%, and trading volumes continued to suffer ahead of an impending UN resolution on the country’s human rights record. The main stock index closed down 0.26%, or 15.64 points, at 5,922.23. The index had ended Friday at its highest close since 11 March. Monday’s turnover was Rs. 197.9 million ($ 1.52 million) - less than a quarter of this year’s daily average of Rs. 869.5 million. Foreign investors were net buyers of shares worth Rs. 12.6 million. Sri Lanka’s Rs. 2.47 trillion ($ 18.94 billion) bourse has seen a net outflow of Rs. 4.1 billion so far this year. It reported a Rs. 22.88 billion inflow in 2013. Ceylon Tobacco shares fell 5.5% to Rs. 1,031.90, with only 35 shares traded. Analysts said investor sentiment has been dented on concerns of a resolution that could hurt the country’s economy. Several potential buyers of risky assets are awaiting a clear direction. Sri Lanka questioned the independence of the United Nations human rights office after the United States asked it to investigate violations by the Government related to the civil war. A vote on the resolution is scheduled for later this week.

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.