Sri Lankan shares little changed, turnover slumps to 5-month low

COLOMBO, Dec 21 (Reuters) – Sri Lankan shares ended little changed in thin trading on Monday as investors kept to the sidelines ahead of holidays later in the week.

Turnover dropped to the lowest since July 21 at 360.6 million rupees ($2.51 million), against this year’s daily average of 1.1 billion rupees.

The market is expected to be lacklustre with low turnover due to year-end holidays starting this week, stockbrokers said.

The markets will be closed on Thursday for a Buddhist religious holiday and Friday for Christmas.

Foreign investors sold a net 69.9 million rupees ($487,108.01) worth of equities, extending the net outflow to 4.24 billion rupees so far this year.

The main stock index ended 0.04 percent weaker at 6,881.75, after hitting its highest close since Dec. 1 in the previous session.

The country’s top mobile phone operator, Dialog Axiata , and conglomerate John Keells Holdings collectively accounted for over 55 percent of the market turnover on Monday. Dialog ended flat, while Keells edged up 0.06 percent.

Bukit Darah and Lion Brewery Ceylon plc fell 1.7 percent each.

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