Friday, 14 March 2014 06:51
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REUTERS:Sri Lanka shares fell for a fourth straight session on Thursday to a more than one-week low in thin trade as concerns over a proposed United Nations resolution, which could have an impact on the country’s economy, hit sentiment, brokers said.
The main stock index fell 0.33% or 19.58 points to 5,913.94, its lowest close since 3 March.
The day’s turnover was Rs. 336.5 million, nearly a third of this year’s daily average of about Rs. 953.9 million.
Analysts said most investors were waiting for direction ahead of voting on the UN resolution later this month and to assess the impact it may have on Sri Lanka’s economy and risky assets.
Shares of Ceylon Tobacco Company PLC fell 2.52% to Rs. 1,111.30, while those of top conglomerate John Keels Holdings PLC fell 0.76% to Rs. 222.80.
Foreign investors bought a net Rs. 8.9 million ($ 68,100) worth of shares on Thursday, extending the net foreign inflow during the last seven sessions to Rs. 245 million.
However, Sri Lanka has seen net selling in stocks worth Rs. 5.19 billion in the last 24 sessions as some offshore funds exited, while net outflows so far in 2014 stand at Rs. 3.8 billion, after net inflows of Rs. 22.88 billion last year.
Sri Lanka last week hit back at a report by the UN Human Rights Chief, questioning the independence of the human rights office of the United Nations after the United States asked it to investigate violations by the Sri Lankan Government.
