Stocks slip near 13-week high on large cap sales

08 Jan 2013 - {{hitsCtrl.values.hits}}

Sri Lankan stocks ended virtually unchanged yesterday, marginally down from a 13-week high, snapping seven straight sessions of gains as investors sold large caps, but foreign buying in conglomerates helped to boost turnover.

The main share index closed 0.03 percent, or 1.62 points weaker, at 5,746.09, slipping from its highest close since October 10.

The index has risen 4.19 percent in the seven sessions through Friday due to declining yields in government securities after the Central Bank cut its key policy rates last month.Turnover was Rs.557.5 million ($4.38 million). Foreign investors were net buyers of Rs.199.8 million worth shares after being net buyers of a record Rs.38.63 billion worth shares last year.The rupee closed slightly weaker at 127.35/40 to the dollar from Friday’s close of 127.30/40 in dull trade, dealers said.

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Stocks slip near 13-week high on large cap sales

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