March 13, 2014 / 11:36 AM / 4 years ago

Sri Lanka stocks at over 1-week low; foreign investors buy

COLOMBO, March 13 (Reuters) - Sri Lanka shares fell for a fourth straight session on Thursday to a more than one-week low in thin trade as concerns over a proposed United Nations resolution, which could have an impact on the country’s economy, hit sentiment, brokers said.

The main stock index fell 0.33 percent, or 19.58 points to 5,913.94, its lowest close since March 3.

The day’s turnover was 336.5 million rupees, nearly a third of this year’s daily average of about 953.9 million rupees.

Analysts said most investors were waiting for direction ahead of voting on the UN resolution later this month and to assess the impact it may have on Sri Lanka’s economy and risky assets.

Shares of Ceylon Tobacco Company PLC fell 2.52 percent to 1,111.30 rupees, while those of top conglomerate John Keels Holdings Plc fell 0.76 percent to 222.80 rupees.

Foreign investors bought a net 8.9 million rupees ($68,100) worth of shares on Thursday, extending the net foreign inflow during the last seven sessions to 245 million rupees.

However, Sri Lanka has seen net selling in stocks worth 5.19 billion rupees in the last 24 sessions as some offshore funds exited, while net outflows so far in 2014 stand at 3.8 billion rupees, after net inflows of 22.88 billion rupees last year.

Sri Lanka last week hit back at a report by the U.N. human rights chief, questioning the independence of the human rights office of the United Nations after the United States asked it to investigate violations by the Sri Lanka government. ($1 = 130.6000 Sri Lanka Rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Anupama Dwivedi)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below