Sri Lankan shares fell for a fifth straight session on Friday to their lowest in more than two weeks with turnover slumping to almost a quarter of this year's daily average as investors awaited direction from a UN resolution on the island nation's human right records. Analysts said investor sentiment has been dented on concerns over the UN resolution, which could have an impact on the country's economy and many potential buyers in risky assets are staying on the sidelines for want of clear direction.
The main stock index fell 0.3 percent, or 17.71 points to 5,896.23, its lowest close since February 26. The day's turnover was 251.4 million rupees ($1.92 million), around a quarter of this year's daily average of about 938.9 million rupees. Analysts said most investors were waiting for direction ahead of voting on the resolution later this month.
Shares of Ceylon Tobacco Company PLC fell 1.03 percent to 1,099.90 rupees, while those of top conglomerate John Keels Holdings Plc fell 1.26 percent to 220.00 rupees. Foreign investors turned net sellers for the first time in eight sessions. They have sold a net 20.28 million worth of shares on Friday, but were net buyers of 224.9 million rupees worth of shares in the last eight sessions.
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