Sri Lankan shares ended steady on Wednesday, hovering near a one-week high, as losses in banking and telecommunication stocks offset gains in large-caps in moderate trade due to political uncertainty ahead of the announcement of parliamentary polls.
The main stock index ended 0.13 points weaker at 7,053.83, slipping from its highest close since June 18 hit on Tuesday.
Turnover stood at 606.35 million rupees ($4.5 million), well below this year's daily average of about 1.1 billion rupees.
"Not many people buying or no selling. Investors are just waiting till the elections are announced," said Dimantha Mathew, a research manager at First Capital Equities (Pvt) Ltd.
Dialog Axiata Plc fell 1.82 percent, while Nestle Lanka Plc rose 3.32 percent and Ceylon Tobacco Co Plc ended up 1.07 percent.
The market saw net foreign outflows of 64 million rupees on Wednesday, extending net foreign outflows in the past 21 sessions to 3.5 billion rupees in stocks.
The bourse, however, has seen net inflows of 2.47 billion rupees into equities so far in 2015.
Investors were confused due to a lack of direction on interest rates, economic policies, and on the timing of the parliamentary election, analysts said.
President Maithripala Sirisena's government has said he would dissolve the parliament once some crucial reforms, including an electoral bill, are passed, but is yet to fix a date for the election.
The main stock index ended 0.13 points weaker at 7,053.83, slipping from its highest close since June 18 hit on Tuesday.
Turnover stood at 606.35 million rupees ($4.5 million), well below this year's daily average of about 1.1 billion rupees.
"Not many people buying or no selling. Investors are just waiting till the elections are announced," said Dimantha Mathew, a research manager at First Capital Equities (Pvt) Ltd.
Dialog Axiata Plc fell 1.82 percent, while Nestle Lanka Plc rose 3.32 percent and Ceylon Tobacco Co Plc ended up 1.07 percent.
The market saw net foreign outflows of 64 million rupees on Wednesday, extending net foreign outflows in the past 21 sessions to 3.5 billion rupees in stocks.
The bourse, however, has seen net inflows of 2.47 billion rupees into equities so far in 2015.
Investors were confused due to a lack of direction on interest rates, economic policies, and on the timing of the parliamentary election, analysts said.
President Maithripala Sirisena's government has said he would dissolve the parliament once some crucial reforms, including an electoral bill, are passed, but is yet to fix a date for the election.
($1 = 133.7000 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)
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