Bourse dips

Tuesday, 5 November 2013 01:25 - - {{hitsCtrl.values.hits}}

Reuters: Stocks fell on Monday to their lowest closing in nearly a week, led by Asian Hotels and Properties PLC with the day’s trading volume slumping to a three-week low, which stockbrokers attributed to lack of retail investor participation. The main index ended down 0.45%, or 26.95 points, at 5,927.41, its lowest close since 29 October. Dealers said the market would not see a sustained gaining trend unless retail investors return to the Bourse. The market has lost 0.42% since the Central Bank cut its key policy rates by 50 basis points on 15 October. Shares in Asian Hotels and Properties fell 5.63% to Rs. 70.30. The day’s turnover slumped to Rs. 419.3 million ($3.20 million), the lowest since 14 October and less than half of this year’s daily average of about Rs. 868 million. Foreign investors were net buyers of Rs. 10.2 million worth of shares, extending the net buying so far this year to Rs. 23.27 billion.

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