Indices down-trended on a stagnant note

sriranga

sriranga

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COLOMBO, Sept 3 (Reuters) - Sri Lankan stocks fell for a second straight session, closing at a near one-week low on Tuesday, led by telecom and banking shares while investor concern over the rupee's volatility also weighed on the bourse, traders said.

The main share index ended down 0.53 percent, or 30.36 points, at 5,752.36. It hit a four-month low during trade, but recovered to end at its lowest close since Aug. 28.

Shares in Hatton National Bank fell 3.08 percent to 147.80 rupees, while those of Sri Lanka Telecom dropped 5.31 percent to close at 39.20 rupees.

The Sri Lankan rupee traded slightly firmer in early trade on Tuesday on sales of a thin volume of inward remittances, but dealers said the currency is likely to remain under pressure in the absence of strong dollar inflows.

The currency had hit an all-time low last week on panic buying by importers, but recovered later.

Tuesday's turnover was 295 million rupees, well below this year's daily average of about 898.9 million rupees.

Foreign investors were net buyers of 64.3 million rupees worth of shares, extending net inflows so far this year to 18.61 billion rupees.

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair)

(ranga.sirilal@thomsonreuters.com)(+94-11-232-5540)

(Reuters Messaging: ranga.sirilal.thomsonreuters.com@reuters.net)(twitter.com/rangab a)
http://www.xe.com/news/2013/09/03/3526621.htm

K.Haputantri · 2 Re: Indices down-trended on a stagnant note Tue Sep 03, 2013 5:27 pm

K.Haputantri

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Thanks Shri for your hard work.

Redbulls · 3 Indices down-trended on a stagnant note Tue Sep 03, 2013 6:09 pm

Redbulls

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WRITTEN BY THARANGA SENARATNE

Sep 03, 2013 (LBT) - Indices on a downtrend with low activity: The Colombo Bourse trended down for the second consecutive day extending its overall down trend, however on a stagnant note with low activity. ASPI ended at 5,752.36 with a loss of 30 points. Drop in prices in Sri Lanka Telekom (-5.3%), Hatton National Bank (-3.1%) and Carson Cumberbatch (-2.0%) negatively affected the market performances. S&P SL20 journeyed a similar path however on a subdued manner and closed at 3,210.89 with a 18 points dip.

Lower activity off-board: Off-board transactions were low and primarily led by HNB Assurance and John Keells Holdings where the former recorded a single crossing of 475k shares which changed hands at LKR55.0 and the latter crossed a single 100k block at LKR215.0. John Keells Holdings denoted on-board interest too led by two transactions totaling 95k shares which traded at LKR212.5-213.0. The counter posted a gain of 0.9% and settled at LKR214.8.

COMB attracts on-board interest supported by a single transaction: Commercial Bank denoted on-board interest largely backed by a single transaction of 226k shares which traded at LKR115.0. The counter closed at LKR114.3, with a dip of 0.3%.

Notable retail participation on TWOD: Heavy retail participation was seen in Touchwood Investments and Access Engineering. TWOD saw notable intra-day volatility where the counter hit a low of LKR0.9 in the morning trading session and rallied to a high of LKR2.2, yielding more that 100% in absolute terms, closed at LKR1.90 with a gain of 5.6%. AEL also witnessed on-board retail participation backed up two transactions amounting to 250k shares which traded at LKR20.3. The counter settled the day flat at LKR20.3.
http://lbt.lk/stock-market

The Alchemist · 4 Re: Indices down-trended on a stagnant note Tue Sep 03, 2013 6:15 pm

The Alchemist

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@ Redbulls,

your signature is as follows -

"We have, in fact, two kinds of morality side by side; one which we preach but do not practice, and another which we practice but seldom preach"- Bertrand Russel

Which do you follow ? or are they side by side ? just curious, thats all. Smile

bullrun · 5 Re: Indices down-trended on a stagnant note Tue Sep 03, 2013 7:29 pm

bullrun

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Our baka pandits always preach several things but sudda fellow continuously buying. M......'s team spread rumors to make fear psychosis among retailers and they are losing grounds day by day. Soon big fish will come to the scene and grab remaining small fish in a blood bath.

Last edited by bullrun on Tue Sep 03, 2013 8:12 pm; edited 1 time in total

Redbulls · 6 Re: Indices down-trended on a stagnant note Tue Sep 03, 2013 7:49 pm

Redbulls

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The Alchemist wrote:@ Redbulls,

your signature is as follows -

"We have, in fact, two kinds of morality side by side; one which we preach but do not practice, and another which we practice but seldom preach"- Bertrand Russel

Which do you follow ? or are they side by side ? just curious, thats all.

End of the day I'm like you all.