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Sri Lankan shares end lower on profit-booking; John Keells falls
May 26, 2017 / 11:51 AM / in 5 months

Sri Lankan shares end lower on profit-booking; John Keells falls

COLOMBO, May 26 (Reuters) - Sri Lankan shares ended lower on Friday, recording their first weekly decline in nine, as investors booked profits in shares of diversified companies such as John Keells Holdings Plc and Melstacorp Plc .

The Colombo stock index ended 0.25 percent weaker at 6,697.86. On Tuesday the bourse hit its lowest close since May 15 hit on Tuesday. The bourse fell 0.47 percent during the week recording its first weekly fall in nine weeks.

The index rose 0.86 percent last week.

Turnover stood at 237.4 million rupees ($1.56 million), well below this year’s daily average of 902.4 million rupees.

Foreign investors net bought shares worth 15.3 million rupees worth of shares extending the year-to-date net foreign inflow to 19.39 billion rupees wroth of equities.

“Market has came down on low volumes. Though there is no serious selling pressure, there is a bit of a wait-and-watch attitude to see whether selling will come,” said Dimantha Mathew, head of research, First Capital Holdings PLC.

“Investor’s are waiting to buy at bargain prices.”

Shares in conglomerate John Keells Holdings Plc fell 0.65 percent while biggest listed lender Commercial Bank of Ceylon Plc fell 1.16 percent and Melstacorp Plc ended 1.35 percent weaker and Colombo Cold Stores Plc fell 0.95 percent.

$1 = 152.6000 Sri Lankan rupees Reporting by Ranga Sirilal; Editing by Vyas Mohan

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