Friday, 8 November 2013 00:00
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Reuters: Stocks fell for a fifth straight session on Thursday and closed at their lowest level in one month, led by blue chips in low trading volume as concerns over poor earnings dented investor sentiment.
The main index fell 0.6%, or 35.71 points, erasing Rs. 14.8 billion ($112.87 million) from the market capitalisation. The index ended at 5,870.47, its lowest close since 7 October.
“Expectations of sluggish earnings in the September quarter have been the reason for the negative sentiment,” a stockbroker said.
Top conglomerate John Keells Holdings, which fell 0.6% to Rs. 222.50, posted a 15% fall in its net profit in the September quarter.
Raft of listed firms are expected to release their quarterly earnings during this month.
The day’s turnover was Rs. 688 million ($ 5.25 million), less than this year’s daily average of about Rs. 864 million.
Foreign investors were net buyers of Rs. 2.5 million worth of shares and the Bourse has seen a net year-to-date foreign inflow of Rs. 23.56 billion.
