Shares post near 2-week closing low; rupee extends losses

(Colombo) REUTERS: Sri Lankan shares fell for the sixth straight session yesterday and closed at their lowest in nearly two weeks as investors sold banking and diversified stocks, while the rupee ended weaker due to importer dollar demand.

The benchmark stock index ended 0.73 percent down at 5,846.94, its lowest close since July 25. It gained 0.37 percent last week, its sixth straight weekly gain.

So far this year, the index is down about 3.4 percent.

Turnover was Rs. 546.2 million (US$3.08 million), less than this year’s daily average of about Rs. 639.7 million so far. Last year’s daily average came in at Rs. 834 million.

Foreign investors sold a net Rs. 70 million worth of shares yesterday, but they have been net buyers of Rs. 504.8 million worth of equities so far this year, according to index data.