News media report says that the local shares fell to their lowest close in this one month period on Wednesday (March 8th), mostly on financial and telecommunication stocks due to investors remaining low regarding rising interest rates in the country. While investors from foreign countries continue to purchase shares worth of 154.8 million Sri Lanka rupees (US$1.02 million), and the year long foreign inflow to SL Rs 1.88 billion rupees of equities.
As of today foreign traders did trading for more than 50 percent day’s turnover of 1.06 billion rupees. While the statics says that the daily average is around SL Rs 685.5 million.
Sri Lankas’ Colombo stock index ended down 0.21 percent at 6,095.07. It shed 0.6 percent last week in its second straight weekly decline.
Traders more watchful after the IMF had urged Sri Lanka’s Central Bank to be ready to tighten the country’s monetary policy, if the credit growth or the country’s inflation does not abate.
Shares in Commercial Bank of Ceylon Plc, the Sri Lanka’s largestest listed lender did fell by 1.27 percent and Dialog Axiata Plc the leading mobile service provider went down by 0.89 percent.
Yields on treasury bills have risen to a more than four-year high since October, while the central bank has kept key policy rates on hold.