July 24, 2017 / 12:23 PM / 2 years ago

Sri Lankan shares post near 6-week closing low

COLOMBO, July 24 (Reuters) - Sri Lankan shares fell for the sixth straight session on Monday to post a near six-week closing low, but brokers said the slide is slowing down.

The Colombo stock index fell just 0.08 percent to 6,664.12, but it marked the lowest close since June 13, and its ninth fall in 10 sessions.

“The market came down over the last few days due to profit taking, but it looks like the profit taking has come to an end and the market is consolidating at these levels,” said Dimantha Mathew, head of research, First Capital Holdings.

Foreign investors bought shares worth a net 195.5 million rupees ($1.27 million) on Monday, extending the year-to-date net foreign inflow to 25 billion rupees.

Turnover was 502.6 million rupees, less than this year’s daily average of around 907 million rupees.

Shares of Hemas Holdings Plc fell 1.8 percent while Ceylon Cold Stores Plc closed 1.14 percent weaker. ($1=153.45 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; editing by Neil Fullick)

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