Dec 5 (Reuters) - Sri Lankan stocks edged down on Friday with low retail participation, but block deals pushed the turnover, while some investors were cautious due to political uncertainty ahead of the Jan. 8 presidential poll.
At 0557 GMT, the main stock index was down 0.28 percent, or 20.09 points, at 7,234.71.
"The turnover was up on a block deal if you take out the block deal the rest of the market was very slow as retail investors are staying away waiting to see the direction," said Reshan Kurukulasuriya, chief operating officer of Richard Pieris Securities (Pvt) Ltd.
Nine loyalists from President Mahinda Rajapaksa's United People's Freedom Alliance, including Health Minister Mithripala Sirisena, have defected since Rajapaksa announced snap elections last week. Sirisena resigned to contest against Rajapaksa as the consensus candidate of a united opposition.
Speculation over more defections also weighed on sentiment, analysts said.
Turnover stood at 1.62 billion rupees ($12.3 million), with 89.73 million shares changing hands.
Four-day rupee forwards traded steady as importer dollar demand offset greenback sales by exporters, dealers said.
The spot currency and three-day forwards, or spot-next, were not traded after the central bank capped the currency at predetermined levels to prevent volatility.
Central bank officials were not available for comment.
Dealers said four-day forwards traded little changed at 131.95/132.05 per dollar at 0603 GMT compared with Thursday's close of 131.95/132.00.
At 0557 GMT, the main stock index was down 0.28 percent, or 20.09 points, at 7,234.71.
"The turnover was up on a block deal if you take out the block deal the rest of the market was very slow as retail investors are staying away waiting to see the direction," said Reshan Kurukulasuriya, chief operating officer of Richard Pieris Securities (Pvt) Ltd.
Nine loyalists from President Mahinda Rajapaksa's United People's Freedom Alliance, including Health Minister Mithripala Sirisena, have defected since Rajapaksa announced snap elections last week. Sirisena resigned to contest against Rajapaksa as the consensus candidate of a united opposition.
Speculation over more defections also weighed on sentiment, analysts said.
Turnover stood at 1.62 billion rupees ($12.3 million), with 89.73 million shares changing hands.
Four-day rupee forwards traded steady as importer dollar demand offset greenback sales by exporters, dealers said.
The spot currency and three-day forwards, or spot-next, were not traded after the central bank capped the currency at predetermined levels to prevent volatility.
Central bank officials were not available for comment.
Dealers said four-day forwards traded little changed at 131.95/132.05 per dollar at 0603 GMT compared with Thursday's close of 131.95/132.00.
($1 = 131.3000 Sri Lankan rupee)
(Reporting by Ranga Sirilal; Editing by Anand Basu)
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