- RanaTop contributor
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Sri Lankan shares end down; turnover slumps
COLOMBO, July 25 (Reuters) - Sri Lankan shares fell on Monday as investors sold large-cap shares like Ceylon Tobacco Company Plc while turnover slumped to a near-three-week low as investors awaited directions on the country's economic policy.
The benchmark Colombo stock index ended down 0.49 percent at 6,397.09, slipping from its highest close since June 21 hit on Friday.
"Investors are taking a look at where the market is going. It's just the direction that is required right now," said Yohan Samarakkody, head of research, SC Securities (Pvt) Ltd.
"Investors are waiting for the prime minister's statement and any clues on the next budget. Quite a lot of uncertainty will be cleared off then."
Analysts said investors have been waiting for direction on the country's economic policy, expected to be announced by Prime Minister Ranil Wickremesinghe next month.
Turnover stood at 285.9 million rupees ($1.96 million), the lowest since July 5 and well below this year's daily average of around 731.6 million rupees.
Overseas investors bought a net 58.1 million rupees worth of shares on Monday, but have been net sellers of 4.8 billion rupees worth of equities so far this year.
Shares in Ceylon Tobacco Company Plc fell as much as 3.12 percent while food and beverage maker Nestle Lanka Plc fell 3.33 percent and leading mobile phone operator Dialog Axiata Plc fell 2.73 percent, dragging the overall index down.
- කිත්සිරි ද සිල්වාTop contributor
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Re: Sri Lankan shares end down; turnover slumps
Thanks Rana.
- RanaTop contributor
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Re: Sri Lankan shares end down; turnover slumps
"we sell and sudda buy, we buy when sudda sell at high price with profit"
කිත්සිරි ද සිල්වා wrote:While we are waiting for directions ....
Thanks Rana.
- nihal123Top contributor
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Re: Sri Lankan shares end down; turnover slumps
Rana wrote:CSE local investor theory.
"we sell and sudda buy, we buy when sudda sell at high price with profit"කිත්සිරි ද සිල්වා wrote:While we are waiting for directions ....
Thanks Rana.