Sri Lanka bourse ends flat ahead of Q3 earnings
October 12, 2010 01:22 am
Analysts said investors were waiting for direction and the key factor would be September quarterly earnings, which are expected to be released starting from this week onward.
Conglomerate Aitken Spence SPEN.CM, which started trading after a 15-for-one share split, gained 1.7 percent.
The index has dropped to a neutral region from the overbought zone with the 14-day relative strength index (RSI) on Monday was at 66.6, below the upper neutral limit of 70,
Thomson Reuters data showed. The index was at 92.4 on Oct.1.
It is trading at the highest forward price-to-earnings ratio
in Asia and global emerging markets at 21.3 times, compared with 13.3 for all
of
Market turnover was 6.7 billion rupees ($59.9 million), more than eleven times the 2009 average. Foreign investors sold a net 542.8 million rupees in shares and they have overall sold 18.3 billion rupees’ worth this year.