CSE posts near 6-week closing low; foreigners buying

Tuesday, 25 July 2017 00:21 - - {{hitsCtrl.values.hits}}

Reuters: Shares fell for the sixth straight session on Monday to post a near six-week closing low, but brokers said the slide is slowing down.

The Colombo stock index fell just 0.08% to 6,664.12, but it marked the lowest close since 13 June, and its ninth fall in 10 sessions.

“The market came down over the last few days due to profit taking, but it looks like the profit taking has come to an end and the market is consolidating at these levels,” said Dimantha Mathew, head of research, First Capital Holdings.

Foreign investors bought shares worth a net Rs. 195.5 million ($ 1.27 million) on Monday, extending the year-to-date net foreign inflow to Rs. 25 billion.

Turnover was Rs. 502.6 million, less than this year’s daily average of around Rs. 907 million.

Shares of Hemas Holdings Plc fell 1.8% while Ceylon Cold Stores Plc closed 1.14% weaker.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.