Colombo equities starts with mixed returns

Colombo equities started with mixed returns on Monday to commence the weekly operations on a lackluster note as investors waited on the sidelines due to absence of directions and concerns over local economic conditions, analysts said.

In the opening hours, benchmark index reached to 7,119 mark but failed to maintain the momentum, as by 11 am it was at 7,106.58, down by 0.02 per cent with 20-scripts S&P SL index marginally inclined by the same percentage to be at  3,885.71.

A thin turnover at Rs. 276 million was recorded by this time.

The investors’ remain cautious on weakening rupee, high interest rates which dragged the index to the negative zone, analysts said.

The Sri Lankan rupee continued to decline against the dollar where it depreciated by 1.1 per cent during the week and the lowest ever depreciation in Sri Lankan rupee against the dollar was recorded last week, where it touched Rs. 143.09 on (last)  Thursday.

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