Bourse weaker, Rupee dips

Thursday, 25 October 2012 00:38 - - {{hitsCtrl.values.hits}}

Stocks fell on yesterday as retail investors sold telecom shares, led by top fixed line operator Sri Lanka Telecom in thin trade amid margin calls, dealers said.

The ASI lost 0.24% or 13.52 points.

“The index fell on retail selling on Telecom, while many were stuck with their position with the recent fall and others were waiting to see the direction,” said a stockbroker on condition of anonymity.

The day’s turnover was Rs. 291.9 million ($ 2.25 million), less than a third of this year’s daily average of Rs. 935 million.

The market saw a net foreign inflow of Rs. 97.7 million, extending the net inflow to Rs. 33.78 billion so far this year.

The rupee ended weaker at 130.05/10 to the dollar compared to Tuesday’s close of 129.95/130.05, on seasonal importer demand for dollars, dealers said.