COLOMBO Oct 18 Sri Lankan shares fell for a
seventh straight session on Tuesday and posted their lowest
close in a month as cautious investors awaited a flurry of
corporate results and next month's national budget, while fresh
political concerns also weighed on sentiment, brokers said.
The benchmark index of the Colombo Stock Exchange
ended 0.15 percent weaker at 6,442.87, its lowest close since
"Investor sentiment will be the same until the budget next
month. The market is also concerned about political stability
after the president's speech last week," said a stockbroker,
asking not to be named.
The head of Sri Lanka's anti-corruption body resigned on
Monday, days after President Maithripala Sirisena implied her
agency was favouring the rival party of his prime
This is likely to delay one of the promises of Sirisena's
coalition government of eliminating corruption and implementing
rule of law and might have an adverse impact on business
confidence, analysts said.
Turnover stood at 389.6 million rupees ($2.65 million),
compared with this year's daily average of around 743 million
Foreign investors, who have sold a net 2.24 billion rupees
worth of shares so far this year, bought a net 98.2 million
rupees worth equities on Tuesday.
Blue chips John Keells Holdings Plc fell 0.66
percent, while top fixed-line phone operator Sri Lanka Telecom
Plc dropped 1.63 percent.
Sri Lanka's quarterly earnings season started last week but
the bulk of locally listed firms will not report until late
October or early November.
($1 = 146.7500 Sri Lankan rupees)
(Reporting by Shihar Aneez; Editing by Subhranshu Sahu)