Shares fall for 6th day; turnover slumps to 6-wk low

Tuesday, 18 October 2016 00:05 - - {{hitsCtrl.values.hits}}

Reuters: Shares closed down for a sixth straight session on Monday with turnover slumping to a six-week low as cautious investors awaited a flurry of corporate results and next month’s national budget.

The benchmark index of the Colombo Stock Exchange ended 0.46% weaker at 6,452.69, its lowest close since 21 September. It shed 1.5% last week.

Turnover stood at Rs. 291.3 million ($ 1.99 million), its lowest since 5 September and less than half of this year’s daily average of around Rs. 745 million.

Foreign investors, who have sold a net Rs. 2.34 billion worth of shares so far this year, bought less than Rs. 700,000 worth of equities on Monday.

John Keells Holdings fell 0.66%, while top lender Commercial Bank of Ceylon lost 1.35%.

Sri Lanka’s quarterly earnings season started last week but the bulk of locally listed firms will not report until late October or early November.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.