Thursday, 19 December 2013 00:52
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REUTERS: Sri Lankan stocks ended steady on Wednesday, hovering at a more than one-week high as gains in diversified shares were offset by losses in beverage, food and tobacco shares, while foreign inflows helped boost sentiment.
The main stock index ended 0.12 points weaker at 5,811.76, remaining near its highest close since 9 December. Analysts said the market could witness a rally in the near future as the possibility of retail investors returning to risky assets is increasing due to falling interest rates.
Yields in 91-day and 182-day treasury bills dropped 12 basis points and 29 bps, respectively, at a weekly auction on Wednesday, while 364-day T-bill yield fell 62 bps. All T-bill yields fell to more than two-year lows.
Shares in Ceylon Tobacco Co PLC lost 2.35% to Rs. 1,123, while market heavyweight John Keells Holdings gained 0.65% to Rs. 217.40.
Foreign investors bought a net Rs. 60.5 million worth of shares on Wednesday, extending the net foreign inflows into the bourse to Rs. 22.55 billion so far this year. The day’s turnover was Rs. 592.6 million ($ 4.5 million), lower than this year’s daily average of Rs. 836.7 million.
