Sri Lankan stocks slip, banking shares lead; policy clarity awaited
COLOMBO, Oct 6 (Reuters) – Sri Lankan shares ended slightly weaker on Tuesday, led by banks, with foreign investors turning net seller of stocks while many investors waited for more clarity on policy direction, brokers said.
The main stock index ended 0.04 percent, or 3.13 points, weaker at 7,085.93, further slipping from its highest close since Sept. 25 hit on Friday.
"Still investors are not fully into the market and they are on a wait and see mode due to lack of clarity on policy," said Dimantha Mathew, a research manager at First Capital Equities (Pvt) Ltd.
Prime Minister Ranil Wickremesinghe is to make a statement next month to outline the policies of the new government.
Foreign investors were net sellers of 104.97 million rupees ($745,790) worth of shares extending the year to date net forging outflow to 3.08 billion rupees.
Turnover was 664.2 million rupees, compared with this year’s daily average of 1.12 billion.
Shares in Ceylinco Insurance Plc fell 3.81 percent while Lanka ORIX Leasing Co Plc slipped 2.00 percent.