Bourse fall from 10-week high

Tuesday, 20 August 2013 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Stocks fell on Monday from their 10-week closing highs in the previous session, led by financials despite heavy foreign buying and as lack of retail investor confidence hit sentiment, brokers said. The main share index ended 0.14%, or 8.87 points, down at 6,224.34, retreating from its highest close since 12 June and snapping a four-day gaining streak. “Still, we do not see retail buying in the market and that has hit the overall confidence,” a broker said. The Central Bank kept its key monetary policy rate unchanged on Friday, as expected, adding that with inflation expected to remain in single digits for the rest of the year, there was room for market lending rates to fall. Foreign investors were net buyers of Rs. 849.3 million ($ 6.45 million) worth of shares, extending the year-to-date net foreign inflow to Rs. 18.12 billion. Turnover was Rs. 1.13 billion, more than this year’s daily average of about Rs. 928 million.

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