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Sri Lankan shares fall for 6th day; turnover slumps to 6-wk low

COLOMBO, Oct 17 (Reuters) – Sri Lankan shares closed down for a sixth straight session on Monday, with turnover slumping to a six-week low as cautious investors awaited a flurry of corporate results and next month’s national budget.

The benchmark index of the Colombo Stock Exchange ended 0.46 percent weaker at 6,452.69, its lowest close since September 21. It shed 1.5 percent last week.

Turnover stood at Rs291.3 million ($1.99 million), its lowest since September 5 and less than half of this year’s daily average of around Rs745 million.

Foreign investors, who have sold a net Rs2.34 billion worth of shares so far this year, bought less than Rs700,000 worth of equities on Monday.

John Keells Holdings fell 0.66 percent, while top lender Commercial Bank of Ceylon lost 1.35 percent.

Sri Lanka’s quarterly earnings season started last week, but the bulk of locally listed firms will not report until late October or early November.

 

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