Bourse falls for 4th straight session

Thursday, 21 December 2017 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Shares fell for a fourth straight session on Wednesday, as investors offloaded stocks of beverages and oil palm companies, while a block deal pushed up turnover.

The Colombo Stock Index ended 0.06% weaker at 6,321.36, its lowest close since 11 April. The index was down 0.4% last week, its sixth consecutive weekly decline.

“Today is also a very dull day. But a block deal pushed the turnover,” said Atchuthan Srirangan, senior research analyst at First Capital Holdings Plc.

“The dull sentiment will continue with the holidays ahead.”

Sampath Bank Plc, which announced a rights issue to increase its tier 1 capital to comply with Basel III requirements, dropped 1.4%. Nestle Lanka Plc fell 2%.

Turnover stood at Rs. 897.3 million ($ 5.86 million), less than this year’s daily average of Rs. 933.3 million. Foreign investors net sold Rs. 79.6 million worth of shares on Wednesday, but they have net bought Rs. 18.3 billion worth of equities so far this year.

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