Bourse up, earnings, foreign outflow weigh

Thursday, 14 November 2013 00:00 - - {{hitsCtrl.values.hits}}

REUTERS: Sri Lankan stocks edged up on Wednesday from their near six-week closing low hit in the previous session, led by financials while most investors were on the sidelines due to concerns over earnings and foreign outflows. The main index closed up 0.06%, or 3.20 points, at 5,816.04. On Tuesday, it had ended at 5,812.84, the lowest since 3 October. Foreign investors were net sellers of Rs. 65.7 million of shares on Wednesday, but they have been net buyers of Rs. 22.47 billion worth this year. Shares in Ceylinco Insurgence PLC rose 4.27% to Rs. 1,313.90 in low volume trading, while conglomerate John Keells Holdings, which on Thursday posted a 15% fall in its September-quarter net profit, fell 0.57% to Rs. 208.60. Many listed firms are expected to release their quarterly earnings this month. The day’s turnover was at Rs. 710.4 million ($ 5.42 million), less than this year’s daily average of Rs. 862.5 million.

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