Bourse little changed near 8-month closing low

Reuters: Shares closed little changed on Thursday, hovering near their lowest close in eight months hit in the previous session, as gains in plantation and beverage stocks offset falls in palm oil and diversified shares.

The Colombo Stock Index ended 0.07% higher at 6,357.04. It had posted its lowest close since April 17 on Wednesday.

“Foreign selling continued,” said Dimantha Mathew, head of research at First Capital Holdings, adding that was a bit of a worrying sign for the market.

Turnover was Rs. 1.2 billion ($ 7.84 million), its highest since 23 November, and more than this year’s daily average of Rs. 941.5 million.

Foreign investors, who have been net buyers of Rs. 18.1 billion worth of shares so far this year, sold equities worth net Rs. 332.9 million on Thursday.

Shares of Commercial Bank of Ceylon Plc, the country’s biggest listed lender, ended 1.4% firmer, while Carson Cumberbatch Plc rose 1.6%.

Conglomerate John Keells Holdings Plc fell 0.6%, while Hemas Holdings Plc ended 1.7% weaker.