Wednesday 25 February 2015

Sri Lankan shares slip from over 1-wk high on political woes

Feb 24 (Reuters) - Sri Lankan stocks ended slightly lower on Tuesday after hitting a more than one-week high in the previous session as political uncertainty weighed on sentiment despite foreign inflows.

The main stock index edged down 0.21 percent, or 15.02 points, to 7,311.29, snapping a three-session winning streak.

Ceylon Tobacco Co Plc fell 1.56 percent with only 55 shares changing hands.

Turnover was 1.25 billion rupees ($9.41 million), below this year's daily average of 1.43 billion rupees.

Parliamentary election is expected to be announced after April 23 and there is still uncertainty whether the ruling coalition would contest together or separately.

Foreign investors were net buyers of 434.5 million rupees worth of shares on Tuesday, extending the year-to-date net foreign inflow to 1.79 billion rupees.

The bourse saw a net foreign inflow of 22.07 billion rupees in 2014. ($1 = 132.9000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

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