Sri Lankan stocks fell on Friday to six-week lows, led by large caps such as Nestle Lanka Plc in sluggish trade, while most investors were on the sidelines due to concerns over poor earnings. The main index closed 0.31 percent, or 18.08 points, weaker at 5,810.97, its lowest close since October 2. The trading volume was sluggish because of frequent road closures for a Commonwealth summit, hitting business activities in Colombo, stockbrokers said.
The day's turnover was at 234.3 million rupees ($1.8 million), well below this year's daily average of 857.98 million rupees. Shares in Nestle Lanka fell 2.11 percent to 1,973.30 rupees. Stockbrokers said investors were worried about the September-quarter earnings. Many listed firms are expected to release their quarterly earnings this month. Foreign investors were net buyers of 30.4 million rupees of shares on Friday, extending the year-to-date net foreign inflow to 22.53 billion rupees worth.
Comments
Comments are closed.