Sri Lankan shares hit more than 8-mth closing low led by heavyweights
COLOMBO, Dec 21 (Reuters) – Sri Lankan shares closed at their lowest in more than eight months in thin trade on Wednesday ahead of the Christmas weekend, falling for a seventh straight session led by blue chips and large caps, stockbrokers said.
The Colombo stock index ended 0.12 percent weaker at 6,227.34, its lowest close since April 6. The bourse has fallen 1.7 percent in seven straight sessions through Wednesday.
"This is a typical year-end market. We expect the turnover to be lower until the new year," said Prashan Fernando, CEO at Acuity Stockbrokers.
Turnover stood at 426.6 million rupees ($2.86 million), less than this year’s daily average of around 743.3 million rupees.
Foreign investors sold a net 97.1 million rupees worth of shares on Wednesday, but the bourse has seen year-to-date net foreign inflow of 600.4 million rupees worth into equities.
Shares in top conglomerate John Keells Holdings fell 0.96 percent, while large cap Ceylon Tobacco Company lost 0.7 percent to drag down the overall index.