Bourse ends weaker amid profit taking

Friday, 10 October 2014 01:45 - - {{hitsCtrl.values.hits}}

Reuters: Stocks fell marginally on Thursday, moving further away from their near three-and-a-half-year high hit last week, amid profit-taking in blue-chips such as Ceylon Tobacco Company Plc and John Keells Holdings Plc. The main stock index ended 0.13%, or 9.93 points, weaker at 7,386.08. It had hit its highest close since 31 May 2011 on Friday. “The retail interest seems to be low now and there was a bit of profit taking in John Keells and CTC, which brought the market down,” said Dimantha Mathew, Manager, Research at First Capital Equities Ltd. Analysts said investors are awaiting the September-quarter earnings and the 2015 Budget scheduled on 24 October for further cues. Foreign investors were net sellers for the second straight session on Thursday. They sold a net Rs. 8.4 million worth of shares on Thursday, but they have been net buyers of Rs. 9.68 billion so far this year, exchange data showed. Ceylon Tobacco, which led losses, ended 5.16% weaker at Rs. 1,150.10, while John Keells fell 0.43% to Rs. 252. The day’s turnover was Rs. 1.46 billion ($11.20 million), more than this year’s daily average of over Rs. 1.35 billion. Stock and foreign exchange markets were closed on Wednesday for a Buddhist religious holiday.

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