Bourse slips

Thursday, 25 July 2013 00:47 - - {{hitsCtrl.values.hits}}

Reuters: Shares slipped in thin trade on Wednesday, retreating from their highest close in nearly three weeks hit in the previous session, after the Central Bank kept key policy rates steady while investors awaited more directions on the rupee and lending rates, brokers said. The main share index ended weaker 0.08% or 5.10 points, at 6,079.14, slipping from its highest close since 3 July. The Central Bank kept key monetary policy rates unchanged, as expected, saying inflation is expected to remain in single digits for the rest of the year supported by supply side improvements and an absence of demand-driven pressures. Foreign investors bought a net Rs. 106.8 million ($ 810,900) in shares, extending the year-to-date net foreign inflow to Rs. 16.84 billion. Despite the Central Bank’s easing policy measures, concerns over the weakening rupee and high lending rates have dented sentiment with investors waiting for some directions, brokers said. Turnover was Rs. 291.5 million, Bourse data showed, well below this year’s daily average of around Rs. 951 million.

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