August 29, 2017 / 12:18 PM / 2 years ago

Sri Lankan shares end lower on selling by foreign investors

COLOMBO, Aug 29 (Reuters) - Sri Lankan shares ended slightly weaker on Tuesday, hovering near a more than four-month closing low hit last week, as foreign investors sold diversified shares, brokers said.

Foreign investors turned net sellers for the first time in six sessions, selling shares worth a net 495 million rupees ($3.24 million), although they have net bought 27.5 billion rupees worth of equities so far this year.

The day’s turnover however touched the highest in more than one month at 1.6 billion rupees, well above this year’s daily average of around 859.8 million rupees.

“Market slipped on a few counters, but it looks healthy with over a billion rupee in turnover,” said Hussain Gani, deputy CEO of Softlogic Stockbrokers.

The Colombo stock index ended 0.2 percent lower at 6,398.79, near its lowest close since April 18 hit on Thursday.

Shares of Hemas Holdings Plc fell 3.68 percent, while Nestle Lanka Plc ended 0.4 percent weaker and conglomerate John Keells Holdings Plc lost 0.3 percent.

The index fell 0.42 percent last week, its sixth straight weekly fall, and has shed more than 4 percent since July 27 through Tuesday.

$1 = 152.7500 Sri Lankan rupees Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju Dwarakanath

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