Shares hit near 1-wk closing low; Keells down 3%

Tuesday, 20 June 2017 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Shares hit a near one-week closing low in tepid trade on Monday, as selling in diversified and banking shares offset foreign inflow into equities.

The Colombo stock index .CSE ended down 0.52% at 6,684.02, its weakest since 14 June.

Foreign investors net bought Rs. 26.7 million ($ 174,396) worth of shares, extending the year-to-date net foreign inflow to Rs. 20.74 billion.

Turnover was Rs. 846.3 million ($ 5.53 million), less than this year’s daily average of Rs. 899.4 million.

“Market came down on selling in Keells,” said First Capital Holdings Plc head of research Dimantha Mathew.

Shares of conglomerate John Keells Holdings Plc JKH.CM fell 3.03%, while the country’s biggest listed lender, Commercial Bank of Ceylon Plc COMB.CM ended 1.43% lower.

“Investors are (also) worried about growth numbers,” he said.

Sri Lanka’s economy grew 3.8% in the first quarter, slowing from the previous quarter’s 5.3%, the state-run Census and Statistics Department said last week.