REUTERS: Sri Lankan shares ended lower yesterday, recording their first weekly decline in nine, as investors booked profits in shares of diversified companies such as John Keells Holdings Plc and Melstacorp Plc.
The Colombo stock index ended 0.25 percent weaker at 6,697.86. On Tuesday the bourse hit its lowest close since May 15 hit on Tuesday. The bourse fell 0.47 percent during the week recording its first weekly fall in nine weeks.
The index rose 0.86 percent last week.
Turnover stood at Rs.237.4 million (US$1.56 million), well below this year’s daily average of Rs.902.4 million.
Foreign investors net bought shares worth Rs.15.3 million worth of shares extending the year-to-date net foreign inflow to Rs.19.39 billion worth of equities.
“Market has came down on low volumes. Though there is no serious selling pressure, there is a bit of a wait-and-watch attitude to see whether selling will come,” said Dimantha Mathew, head of research, First Capital Holdings PLC.
“Investors are waiting to buy at bargain prices.”
Shares in conglomerate John Keells Holdings Plc fell 0.65 percent while biggest listed lender Commercial Bank of Ceylon Plc fell 1.16 percent and Melstacorp Plc ended 1.35 percent weaker and Colombo Cold Stores Plc fell 0.95 percent.