September 30, 2015 / 11:41 AM / 4 years ago

Sri Lankan stocks end at 11-week low; investors uncertain

COLOMBO, Sept 30 (Reuters) - Sri Lankan shares ended lower on Wednesday led by blue-chip shares such as John Keells Holdings Plc while cautious investors awaited some direction from the budget.

The main stock index closed down 0.49 percent at 7,050.87, its lowest close since July 15.

Foreign investors were net sellers of 87.4 million rupees worth of shares on Wednesday extending the year-to-date net foreign outflow to 3.16 billion rupees.

“Budget is the holding factor as investors are looking for clear direction,” said Reshan Kurukulasuriya, chief operating officer of Richard Pieris Securities (Pvt) Ltd.

The new government, which was elected after the Aug. 17 polls, will present its maiden budget in November.

Shares of conglomerate John Keells fell 1.74 percent while Nestle Lanka Plc fell 0.06 percent. Shares in biggest listed banker Commercial Bank of Ceylon fell 1.79 percent.

Turnover was 1.29 billion rupees ($9.14 million), slightly above this year’s daily average of 1.12 billion. ($1 = 141.2000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair)

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