Shares slip from over 3-wk high on foreign selling

(Colombo) Reuters: Sri Lankan shares ended slightly weaker yesterday, snapping a five-session winning streak, on foreign selling.

However, the day’s turnover was Rs.365.5 million, much lower than this year’s daily average of Rs.804.1 million.

The Colombo stock index ended 0.13 percent weaker at 6,120.29, slipping from its highest close since August 13.

“Foreign selling in Keells brought the index down. But we see some positive signs of local buying,” said Softlogic Stockbrokers Deputy CEO Hussain Gani.

Foreign investors sold a net Rs.46.9 million of shares on Wednesday, extending the net outflow so far this year to Rs.4.3 billion worth of shares.

John Keells Holdings fell 0.4 percent, while large cap Ceylon Tobacco Co ended 1.8 
percent weaker.