Shares fall for seventh session in eight; foreigners buy

REUTERS: Sri Lankan shares fell for a seventh session in eight yesterday and posted their lowest close in a month with blue chips leading the losers.

However, foreign investors bought into risky assets, limiting the downside. The Colombo stock index ended 0.16 percent lower at 6,684.47, its lowest close since June 19, and its fourth straight session of falls.“Turnover was healthy and we still see foreign interest in equities. We see the support level at 6,650,” said Hussain Gani, deputy CEO at Softlogic Stockbrokers. Foreign investors bought shares worth net Rs.346.3 million (US$2.25 million) on Wednesday, extending the year-to-date net foreign inflow to Rs.24.8 billion worth of equities.

Turnover was Rs.1 billion, higher than this year’s daily average of Rs.914.1 million.
Shares of Ceylon Tobacco Company fell 1.6 percent, while market heavyweight John Keells Holdings closed 0.6 percent weaker.