Saturday, 31 May 2014 00:00
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Reuters: Stocks fell on Friday to a their lowest in more than three weeks led by large-cap shares, despite buying by foreign investors whose outlook on the risky assets remained positive due to lower interest rates.
The main stock index ended 0.64%, or 40.31 points, weaker at 6,263.46, its lowest close since 7 May, and slipping from its highest close since 20 May hit on Thursday.
The Bourse saw a net foreign inflow of Rs. 229.8 million ($ 1.76 million) worth of shares on Friday, extending the year-to-date net foreign inflow to Rs. 2.5 billion.
The day’s turnover was at Rs. 1.08 billion, as against this year’s daily average of Rs. 1.01 billion.
Stockbrokers expect the market to gain in the near future due to lower interest rates after the Central Bank kept key rates at multi-year lows on Tuesday for the fourth straight month, as expected.
Shares of Carson Cumberbatch fell 5.22% to Rs. 379.10 a share, while Ceylon Tobacco Company PLC CTC.CM fell 0.59% to Rs. 1,058.70.
