Sri Lanka stocks down despite foreign inflows

cse  Sri Lankan shares fell for a second straight session on Tuesday despite foreign inflows as a proposed United Nations resolution, which may have an impact on the country’s economy, dented sentiment, brokers said.

Analysts said most investors were waiting for direction ahead of voting on the resolution later this month and to assess the impact it would have on the economy and risky assets.

The main stock index fell 0.22 percent, or 13.04 points to 5,944.57.

Shares of top conglomerate John Keells Holdings PLC fell 2 percent to 225.00 rupees.

Foreign investors bought a net 69.2 million rupees worth of shares on Tuesday, extending the net foreign inflow during the last five sessions to 141 million rupees.

However, Sri Lanka has seen net selling worth 5.29 billion rupees in the last 22 sessions as some offshore funds exited, while net outflows so far in 2014 stood at 3.9 billion rupees, after net inflows of 22.88 billion rupees last year.

Sri Lanka last week hit back at a report by the U.N. human rights chief, questioning the independence of the human rights office of the U.N. after the United States asked it to investigate violations by the Sri Lankan government.

The day’s turnover was 804.5 million rupees ($6.16 million), less than this year’s daily average of about 980.3 million rupees.


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