COLOMBO, April 17 Sri Lankan shares fell on
Monday from a five-month closing high to snap an 11-session
winning streak as investors took profits in blue chips that had
gained in a rally driven by foreign-buying.
The Colombo stock index ended down 0.8 percent at
6,351.26, slipping from its highest close since Nov. 15 hit in
the previous session.
The index had climbed 7.2 percent over 11 gaining sessions
up to Wednesday. The market was closed for Sri Lanka's
traditional new year holidays on Thursday and Friday.
"It is a healthy profit-taking after the recent gains," said
Hussain Gani, deputy CEO at Softlogic Stockbrokers. "We expect
the market to stabilise at these level with foreign interest in
The market has seen fund inflows for 17 straight sessions
through Monday, with foreign investors buying a net 5.23 billion
rupees ($34.5 million) worth of equities in the period.
They net-bought shares worth 7.1 million rupees on Monday,
raising the year-to-date net foreign inflow into equities to
7.71 billion rupees.
Turnover was dull on the first day of trading after the long
holiday, and stood at 365.1 million rupees, less than half of
this year's daily average of 774.8 million rupees.
Shares of Ceylon Tobacco Company plc lost 4.8
percent, while conglomerate John Keells Holdings Plc
fell 1.3 percent. ($1 = 151.8000 Sri Lankan rupees)
(Reporting by Shihar Aneez; Editing by Amrutha Gayathri)