Stock market at 8-week low

Friday, 2 November 2012 03:01 - - {{hitsCtrl.values.hits}}

Sri Lankan stocks eased to their lowest in eight weeks on Thursday in light trade. Retail investors sold bank and finance shares but many stayed away, waiting for direction from next week’s budget and corporate earnings.

The rupee edged weaker on importers’ demand for dollars, dealers said.

The Colombo Stock Exchange’s main index fell 0.35% or 19.10 points, to end at 5,494.54, its lowest since Sept. 6.

The government will present the 2013 budget on Nov.8 while several companies will release quarterly results next week.

Turnover on the Sri Lanka exchange was 138.2 million rupees ($1.06 million), well below this year’s daily average of 919 million rupees.

Foreigners bought a net 13.3 million rupees worth of shares, extending the net foreign inflow so far this year to 33.9 billion rupees.

The rupee ended weaker at 130.30/40 to the dollar from Wednesday’s close of 130.20/25.

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.