Sri Lankan stocks end down with foreigners net buyers

Dec 11 (EconomyNext) – Sri Lankan stocks closed weaker Thursday with uncertainty caused by looming presidential polls dampening interest but foreign investors were active with a net inflow of funds, brokers said.

The All Share Price Index closed at 7,243.34, down 10.94 points or 0.2 percent while the S&P SL20 index, which tracks the top 20 largest and most liquid stocks on the Colombo Stock Exchange, was barely changed 4,082.95.

Turnover fell back to a low 742 million rupees.

"There was good foreign participation today 47 percent and a net foreign inflow of 254 million rupees," said Oshan Dharmaratne, investment analyst at Lanka Securities.

Sanasa Development Bank Rights were the most actively traded shares, falling by 20 percent to 15.00 rupees, Thursday being the renunciation date.

Amana Takaful was among the most actively traded stocks, with investors selling out after it went Ex-rights, closing at 1.50 rupees, down six percent. 

The market turned volatile last month after a snap presidential polls was called for January 8, 2015 and President Mahinda Rajapaksa was challenged by a defector from his own ranks, former health minister Maithripala Sirisena, who joined the opposition as a common candidate of a coalition of parties.

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