Bourse down despite foreign inflows

Wednesday, 12 March 2014 01:25 - - {{hitsCtrl.values.hits}}

REUTERS: Sri Lankan shares fell for a second straight session on Tuesday despite foreign inflows as a proposed United Nations resolution, which may have an impact on the country’s economy, dented sentiment, brokers said. Analysts said most investors were waiting for direction ahead of voting on the resolution later this month and to assess the impact it would have on the economy and risky assets. The main stock index fell 0.22%, or 13.04 points to 5,944.57. Shares of top conglomerate John Keells Holdings PLC fell 2% to Rs. 225.00. Foreign investors bought a net Rs. 69.2 million worth of shares on Tuesday, extending the net foreign inflow during the last five sessions to Rs. 141 million. However, Sri Lanka has seen net selling worth Rs. 5.29 billion in the last 22 sessions as some offshore funds exited, while net outflows so far in 2014 stood at Rs. 3.9 billion, after net inflows of Rs. 22.88 billion last year. Sri Lanka last week hit back at a report by the UN human rights chief, questioning the independence of the human rights office of the UN after the United States asked it to investigate violations by the Sri Lankan Government. The day’s turnover was Rs. 804.5 million ($ 6.16 million), less than this year’s daily average of about Rs. 980.3 million.

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