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Sri Lankan shares post near 3-wk closing low in dull trade
March 1, 2017 / 12:14 PM / 9 months ago

Sri Lankan shares post near 3-wk closing low in dull trade

COLOMBO, March 1 (Reuters) - Sri Lankan shares fell on Wednesday to their lowest close in nearly three weeks as concerns about rising interest rates continued to hurt investor sentiment.

The Colombo stock index ended down 0.21 percent at 6,121.43, its lowest close since Feb. 9.

Turnover was 382.2 million rupees ($2.53 million), around half of this year’s daily average of 663.6 million rupees.

“The market is still holding grounds because of good (corporate) results in the last quarter and some dividend announcement,” said Prashan Fernando, CEO at Acuity Stockbrokers.

Shares of Ceylon Cold Stores Plc fell 4.11 percent, while conglomerate John Keells Holdings Plc declined 0.21 percent.

Foreign investors were net buyers of 111.9 million rupees worth of shares, extending the year-to-date net foreign inflow to 599.6 million rupees worth of equities.

Yields on treasury bills have risen to a more than four-year high since October, while the central bank has kept key policy rates on hold. ($1 = 151.2500 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

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