Bourse ends steady in low trade

Reuters: Shares ended steady on Friday in thin trade as investors awaited details of the Government’s 2016 Budget.

Sri Lanka will reduce its budget deficit marginally to 5.9% of Gross Domestic Product from this year’s revised 6%, the 2016 official Budget document showed on Friday.

The main stock index ended 0.04%, or 2.74 points, weaker at 7,017.44, from its highest close since 9 November hit in the previous session.

“Turnover and volume declined during the day while foreign participation remained (low) recording a marginal net foreign inflow to the market,” First Capital Securities said in a note to investors.

Turnover was Rs. 447.2 million ($3.14 million) on Friday, less than half of this year’s daily average of Rs. 1.1 billion.

Shares in Aitken Spence Plc fell 2.30% while Commercial Leasing & Finance Company Plc fell 2.44%.

Foreign investors, who had sold a net Rs. 3.59 billion worth of equities so far this year, were net buyers of Rs. 7.9 million worth of shares on Friday.