Sri Lanka shares slip on rising Middle East tensions

Foreign investors were net buyers in the equity market

  
An investor scratches his head in front of the stock board at the Colombo Stock Market in Colombo July 1, 2013.

An investor scratches his head in front of the stock board at the Colombo Stock Market in Colombo July 1, 2013.

REUTERS/Dinuka Liyanawatte

COLOMBO- Sri Lankan shares fell on Monday to their lowest in nearly four weeks, as escalating tensions in the Middle East lifted crude prices and shook investor confidence across the globe.

** Tensions in the Middle East after the U.S. killed a top Iranian general pulled down an index of Asian shares off an 18-month high on Monday as investors pushed safe-haven gold near a seven-year high, and oil jumped to four-month peaks.

** The benchmark Sri Lankan stock index closed down 0.68% at 6,066.93, the lowest level since Dec. 24, weighed down by financials and industrial stocks.

** Conglomerate John Keells Holdings Plc was the top drag on the index, falling as much as 1.58%, while Hatton National Bank PLC HNB.CM fell 2.4% to a near three-month closing low and Commercial Leasing & Finance PLC dropped 5.3%.

** Foreign investors were net buyers in the equity market, adding 91.3 million Sri Lankan rupees ($503,863.13) worth of shares.

** The Sri Lankan rupee was last quoted at 181.20 against the dollar, Refinitiv data showed.

** Equity market turnover was 444.8 million Sri Lankan rupees.

($1 = 181.2000 Sri Lankan rupees)

(Reporting by Chandini Monnappa in Bengaluru; Editing by Shinjini Ganguli) ((Chandini.M@thomsonreuters.com; 910867497919;))


More From Equities