Sri Lankan shares fall to over 7-1/2 months low

Sri Lankan shares fell to a more than seven-and-a-half-month closing low on Monday, led by bluechips such as John Keells Holdings Plc and Commercial Bank of Ceylon Plc on worries earnings of financial firms would fall after the new budget proposals announced were implemented. The main stock index ended 0.75 percent, or 52.26 points, weaker at 6,909.15, its lowest close since April 10.
Shares of conglomerate John Keells Holdings fell 2.55 percent, while the country's biggest listed lender, Commercial Bank of Ceylon, dropped 3.24 percent and Nestle Lanka Plc declined 1.63 percent. Turnover was 754.4 million rupees ($5.27 million), lower than this year's daily average of 1.1 billion rupees.