Bourse remains on the up

Tuesday, 10 February 2015 01:44 - - {{hitsCtrl.values.hits}}

Reuters: Shares ended at a more than one-week high on Monday, led by financials, though the turnover was lower than usual because of the ongoing political uncertainty. The main stock index ended up 0.5%, or 35.69 points, at 7,198.44, its highest close since 30 January. Analysts, however, said political uncertainty weighed on the Bourse, with the Opposition bringing in a no-confidence motion against a Cabinet Minister and the Prime Minister threatening to dissolve Parliament if it goes through. “Bit of a slow day. The turnover was comparatively low. This slowdown might there for some days until they settle at the Parliament,” said Dimantha Mathew, Manager, Research at First Capital Equities Ltd. Monday’s turnover was Rs. 930 million ($ 7 million), well below this year’s daily average of Rs. 1.43 billion. Shares of Hatton National Bank Plc rose 5.59%, while conglomerate John Keells Holdings Plc gained 1.44%. Foreign investors bought a net Rs. 92.2 million worth of shares on Monday, extending net foreign inflows this year to Rs. 825.4 million worth of shares. The Bourse had net foreign inflows of Rs. 22.07 billion last year.

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