Shares post near 6-week closing low

REUTERS: Sri Lankan shares fell for the sixth straight session yesterday 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 First Capital Holdings Head of Research Dimantha Mathew.

Foreign investors bought shares worth a net Rs.195.5 million yesterday, extending the year-to-date net foreign inflow to Rs.25 billion.

Turnover was Rs.502.6 million, less than this year’s daily average of around Rs.907 million.
Shares of Hemas Holdings PLC fell 1.8 percent while Ceylon Cold Stores PLC closed 1.14 percent weaker.