Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » Sri Lankan shares up for second session on foreign buying

Sri Lankan shares up for second session on foreign buying

Go down  Message [Page 1 of 1]

ruwan326

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Sri Lankan shares rose for the second straight session on Friday as foreign investors picked up shares that had been battered in recent days, brokers said.
Sri Lanka’s central bank left its key policy rates unchanged as expected on Friday before the market opened, and said the decision backed its goals for stabilising inflation and fostering sustainable economic growth.
The Colombo stock index ended 0.12 percent firmer at 6,143.90.
The index began the week by marking its lowest close since July 12 and fell 0.16 percent during the week, recording its second weekly decline. It is down 3.5 percent so far this year.
Turnover stood at 150.5 million rupees ($942,391.98), well below this year’s daily average of 844 million rupees.
“The market is moving sideways with low turnover levels as there is not much of selling pressure,” said Dimantha Mathew, head of research, First Capital Holdings.
“The buying interest is there but they are looking at cheaper prices, but there are no sellers which is a good sign for the market.”
Foreign investors bought equities worth a net 49.9 million rupees on Friday, but have been net sellers of 2.6 billion rupees worth of equities so far this year.
Sri Lanka’s central bank governor Indrajit Coomaraswamy on Friday said the economy is unlikely to grow more than 4 percent in 2018, falling short of an earlier estimate of 5 percent.
Shares of Ceylon Tobacco Company Plc ended 0.5 percent up, while Melstacorp Ltd rose 6.03 percent, Dialog Axiata Plc closed 2.1 percent firmer and biggest listed lender Commercial Bank of Ceylon Plc gained 1.5 percent.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum